Public Holiday (observing St. George’s Day)
Submitted by nkhan.external on
Bulgaria
Number one for domestic and international clients
At UniCredit Bulbank, Global Securities Services covers the full range of services including safekeeping, settlement, corporate action and proxy voting, pension fund administration and NAV calculations, advisory functions on financial markets etc. The number one custodian features the biggest leading and cross-border client base
The Bank’s in-house development of IT-solutions, furthermore, reaches the highest level of STP processing. It comprises experts of security services with large-scale and deep market knowledge and a long track record in both, in- and outbound businesses, who consistently provide top services and strong client-oriented approaches.
UniCredit Bulbank is the subcustodian with the most extensive coverage of the CEE region, which is crucial for the large number of domestic clients investing abroad.
Sigla valuta:
BGN
Contact information:
Madlen Mineva
Head of Global Securities Services, Bulgaria
+359 2 923 2673
madlen.mineva@unicreditgroup.bg
Borislav Hitov
Senior Relationship Manager
+359 2 923 2670
borislav.hitov@unicreditgroup.bg
Address:
Flag:
Machine name:
bulgaria
Sidebar image:
Claim:
Bank:
UniCredit Bulbank AD
Local links:
- BULGARIAN STOCK EXCHANGE:
http://www.bse-sofia.bg - BULGARIAN NATIONAL BANK:
http://www.bnb.bg - CENTRAL DEPOSITORY AD:
http://www.csd-bg.bg - FINANCIAL SUPERVISION COMMISSION:
http://www.fsc.bg - MINISTRY OF FINANCE:
http://www.minfin.bg
Labour Day
Submitted by nkhan.external on
Update of Central Depository’s Rules
Following approval by the Financial Supervision Commission, Central Depository AD (“CDAD”) has amended its Rules. The main changes are related to CDAD’s migration to T2S on 11 September 2023 and will enter into force on the same date and can be summarized as follows:
- CDAD shall charge its members with the out-of-pocket expenses incurred for the T2S Services. More details are yet to be announced.
T2S Preparations in Bulgaria – CDAD Seminar
On 9 May 2023 the Central Depository AD (“CDAD”) organized a Spotlight on T2S seminar with market participants to update on the progress of CDAD’s readiness to join TARGET2-Securities on 11 September 2023 and to discuss and clarify open questions.
The main points from the seminar can be summarized as follows:
T2S Preparations in Bulgaria – Updates
On 21 April 2023 the Bulgarian National Bank (“BNB”) informed its CSD participants that the European Central Bank has confirmed 11 September 2023 as the migration date to T2S for both BNB and Central Depository AD (“CDAD”).
BNB has further announced that testing with CSD participants shall take place in the period 19 June - 18 August 2023. Further details, including specific test dates and scenarios shall be announced separately.
Orthodox Easter Monday
Submitted by nkhan.external on
Orthodox Good Friday
Submitted by nkhan.external on
Liberation Day
Submitted by nkhan.external on
Public Holdiay
Submitted by nkhan.external on
Postponement of EURO implementation in Bulgaria
The Bulgarian Ministry of Finance has announced that Bulgaria will not submit a Convergence Report request to the European Commission and the European Central Bank at the end of February due to having not fulfilled some of the eligibility criteria. This includes inflation requirements as well as not having been able to adopt some of the necessary laws including the Bulgarian National Bank Act.