REFORMS OF BANKING SUPERVISION IN BULGARIA

MIROSLAV NEDELCHEV

 

Abstract

The aim of the paper is to present the dynamics in the banking supervision of Bulgaria. The international trend to extend the scope of banking supervision is reflected in the national policy for development of banking system. The recommendations in the European directives create an environment for the restructuring of banking supervision in individual Member States to scope extension to non-financial information and good corporate governance practices.
The results of the paper reach a new wave, which is aimed at modernizing and restructuring both the banking system, as well as the banking supervision. The dynamics of adapting banking supervision to the new reality differs for home and host countries. For the banking system of Bulgaria, which is predominantly represented by subsidiaries of European banking groups, the supervision authority is restructured towards non-financial information, including good practices of corporate governance.

Key words

supervision culture, corporate governance, non-financial information

JEL Codes: E58, G28, G34

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