The Bulgarian National Bank presented the latest projects in the areas of financial services and payments on which it is working, impacting the development of the financial sector
One of the important projects presented was the technical implementation of the direct connection of the Government Securities Depository operated by BNB with the trading system of the Bulgarian Stock Exchange and with the Bloomberg E-Bond platform.
The trading with government securities on the regulated market is expected to lead to further development and modernisation of the Bulgarian government securities market and to foster its integration in the EU’s single market. It will also allow, by the end of next year, financial institutions to freely select the place where they trade government securities issued in Bulgaria, in compliance with the requirements of Commission Delegated Regulation (EU) 2015/61 concerning the assessment of liquid assets in the form of government securities. It will as well possibly provide the prerequisites for achieving additional diversification to investors in Bulgarian government debt instruments.
The changes have been developed by BNB in line with its debt management and financial markets securities policy, in the context of Bulgaria’s future euro area membership, and are also necessitated by recent EU regulatory reforms.