The Bulgarian National Bank allowed Corporate Commercial Bank AD and Victoria Commercial Bank EAD to carry out certain bank operations to repay loans. These include repayment of Corpbank loans via accounts in the same bank, of loans of co-debtors or of loan guarantors if the loan was taken before June 1, 2014.
The Central Bank Directors' Board allows non-cash desk operations such as currency exchange if the loan repayment policy requires it.
The Central Bank instructed the conservators of banks placed under special supervision to take the necessary steps to remove the collateral on the loan upon full repayment. In partial repayment conservators of a bank under special supervision may take the necessary action for the release of any of the collateral if the loan remains secured by liquid collateral and quality, to be determined after completion of their current assessment, which should be no less than 130% of the loan claim.
The Central Bank decided that assignment on deposit in a bank under special supervision by the holder of the deposit to another person who has an account in the same bank can be declared invalid due to evasion of deposit guarantee sum payment as defined in Art. 4, par. 1 of the Deposit Insurance Fund, or damage to the interests of creditors, informed the National Bank.
