ECB announces lists of Bulgarian and Croatian banks it will directly supervise as of October 2020
Last Friday, on 11 September 2020, the European Central Bank (ECB) announced the lists of Bulgarian and Croatian banks that it will start directly supervising as of October 2020.
The lists include five banks in Bulgaria and eight banks in Croatia. The ECB will also be responsible for the oversight of the less significant institutions and in charge of the common procedures for all supervised entities in the two countries.
This follows the establishment of a close cooperation by the ECB with the Bulgarian National Bank (Българска народна банка) and the Croatian National Bank (Hrvatska narodna banka) in July 2020, as a further step towards Bulgaria’s and Croatia’s future participation in the euro area.
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