The BNB Governing Council has adopted an Ordinance repealing Ordinance No. 21 of 26 November 2015 on the minimum required reserves maintained with the Bulgarian National Bank[...]

PRESS RELEASE

27 October 2025

At its regular meeting, the Governing Council of the Bulgarian National Bank has adopted an Ordinance repealing Ordinance No. 21 of 26 November 2015 on the minimum required reserves maintained with the Bulgarian National Bank by banks (the repealing Ordinance).

From the date of introduction of the euro as the official currency in the Republic of Bulgaria, banks and foreign bank branches in Bulgaria will start applying the Eurosystem's minimum reserves under Council Regulation (EC) No. 2531/98¹, Regulation (EU) 2021/378² and Regulation (EU) 2023/1679³. With regard to the calculation of the reserve base, the provisions of Regulation (EU) No 2021/379⁴ will apply. BNB OrdinanceNo. 21⁵, which currently establishes the minimum reserve requirements in Bulgaria, will be repealed as from 1 January 2026.

According to Article 2 of Decision ECB/2025/33⁶ of the European Central Bank, a transitional maintenance period will run from 1 January to 10 February 2026 for banks and foreign bank branches located in Bulgaria.

In this regard, the repealing Ordinance establishes the duration of the basis period and of the maintenance period for the minimum reserves in Bulgaria for December 2025, namely a basis period from 1 December to 28 December 2025, and a maintenance period from 4 December to 31 December 2025.

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¹ Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank

² Regulation (EU) 2021/378 of the European Central Bank of 22 January 2021 on the application of minimum reserve requirements (ECB/2021/1)

³ Regulation (EU) 2023/1679 of the European Central Bank of 25 August 2023 amending Regulation (EU) 2021/378 on the application of minimum reserve requirements (ECB/2021/1) (ECB/2023/21)

⁴ Regulation (EU) No 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and the monetary financial institutions sector (ECB/2021/2)

⁵ Ordinance No 21 of 26 November 2015 on minimum required reserves maintained with the Bulgarian National Bank by banks (published in State Gazette Issue 94 of 4 December 2015; effective as of 4 January 2016; amended, Issue 44 of 2021; amended, Issue 42 of 2023)

⁶ Decision (EU) 2025/2015 of the European Central Bank of 23 September 2025 on transitional provisions for the application of minimum reserves by the European Central Bank following the introduction of the euro in Bulgaria (ECB/2025/33)