During a press conference on bank restructuring (resolution) here on Tuesday, Dominique Laboureix, Chair of the Board of Executives of the Single Resolution Board (SRB), said that Bulgaria’s accession to the eurozone in less than three months will not lead to significant changes for banks, depositors, or the Bulgarian National Bank. Laboureix said that the SRB has been working well with the Bulgarian National Bank since 2020, when Bulgaria joined the European banking union, and in close cooperation with the European Central Bank (ECB).
Laboureix said that banks in Bulgaria and their regulation will continue to be carried out in the established manner, and the only change for customers will be the transition from the lev to the euro.
He emphasized that possible macroeconomic effects such as inflation or price changes fall within the competence of the ECB, but no shocks are expected when it comes to the banking supervision and the stability of the system.
The SRB is the body responsible for developing and implementing rules and measures in the event that a credit institution becomes close to insolvent or actually insolvent.the SRB is part of the Single Resolution Mechanism (SRM), which also includes national regulatory authorities, and was introduced 10 years ago in response to the global financial crisis of 2008-2009. The SRB and the SRM are the second pillar of the European banking union, the first being European Banking Supervision, which is responsible for the direct supervision of banks’ day-to-day activities.
Bank restructuring, which is the responsibility of the SRB, is a process whereby the competent authority restructures or closes (initiates insolvency proceedings) a bank in serious crisis in a manner that protects the public interest, the stability of the financial system and depositors’ funds, without placing an undue burden on the state budget.
Asked by BTA about the prospects for the digital euro, Laboureix warned that the lack of a limit on the funds that can be held in digital wallets could create a risk in times of crisis. Last week, the ECB presented a study indicating that 8.2% of the deposit base in Europe, or around EUR 700 billion, could move into digital euro wallets if the limit on funds held were EUR 3,000.
The expert specified that if there was no ceiling, funds could quickly be transferred from the banking system to the digital euro, which could accelerate the outflow of liquidity in times of stress. That does not mean that the digital euro would create the crisis itself, but it could accelerate the crisis. Laboureix reported that discussions are already underway at the ECB to set limits as part of the future policy decision on the digital euro. Bulgaria’s Eurozone Entry Will Bring No Disruption, Says Single Resolution Board Chair THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2025-10-14 18:42:56 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law
