Bulgarian National Bank

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Bulgarian National Bank


the central state bank of the People’s Republic of Bulgaria, acting as the country’s bank of issue and credit center. It was organized in December 1947 on the basis of the former National Bank of Bulgaria, a bank of issue created in 1879. The Bulgarian National Bank holds money of the state, budget institutions, banks, and other financial and credit agencies of the country that is not immediately needed. It regulates monetary circulation, exercises control over the expenditure of the wage fund and the cash fulfillment of the state budget, determines the exchange rate of foreign currencies in Bulgarian leva, buys and sells foreign currency, and purchases precious metals and other currency valuables. It participates in drawing up the unified plan for the country’s socioeconomic development, the consolidated financial and currency plans, and the balance of the income and expenditures of the population, as well as in formulating a unified credit and cash plan for the country. In 1947 the functions of nationalized private banks passed over to the Bulgarian National Bank. Until April 1969, in the regulation of monetary circulation in the country, the bank provided credit and financing for associations, enterprises, and economic bodies and exercised control over capital investments. In April 1969 these functions were turned over to newly organized specialized banks: the Bulgarian Industrial Bank and the Bulgarian Farming and Commercial Bank. These banks perform their activities in localities through offices of the Bulgarian National Bank.


References in periodicals archive ?
IBAN BG83BNBG96613300134102; BIC BNBGBGSD to the Bulgarian National Bank - Headquarters.
5 per cent of the country's gross domestic product (GDP) targeted by the Cabinet in 2011, Bulgarian National Bank preliminary data showed on August 15.
In the first quarter of this year, the Bulgarian National Bank seized 609 counterfeit euro banknotes, 166 dollar banknotes and 27 banknotes of other foreign currencies.
The Banking Supervision Department of the Bulgarian National Bank (BNB) could see potential conflict of interest, according to the Capital Daily.
Household deposits increased by BGN 4 B on the year in February 2013, according to reports of Bulgarian National Bank (BNB).
After the completion of stress tests and a review of bank assets last summer, the Bulgarian National Bank issued recommendations to two banks where problems had been found a First Investment Bank and Investbank.
Deposits and Guarantees required: Document lodged for tenders - a bank guarantee or a cash amount transferred to the account of Directorate "Finance" in the Bulgarian National Bank, c.
The Sofia City Court has approved a request from the prosecutor's office to suspend Tsvetan Gounev, deputy governor of the Bulgarian National Bank (BNB).
2% of GDP) for January - November 2011, according to preliminary data of the Bulgarian National Bank (BNB).
Bulgarian National Bank statistics from 2008 say that average interest rates were 8.

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