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Dec 29, 2022 15:50 EEST
December 29 (SeeNews) - Bulgaria's central bank said that it is keeping the countercyclical capital buffer rate applicable to credit risk exposures in the country at 2.0% for the first quarter of 2024.
The increase in the countercyclical buffer rate is aimed at strengthening the banks' resilience to pressures on profitability and capital position caused by a rise in non-performing loans and impairments, the Bulgarian National Bank (BNB) said in a statement last week.
In September, the BNB raised the countercyclical capital buffer rate to 2% for the fourth quarter of 2023, after lifting it by half a percentage point to 1.5% as of January 2023.
According to the central bank, low real interest rates have led to increased lending activity across all credit market segments. Sustained high credit growth could lead to credit risk accumulation and financial trouble in an economic downturn or a sudden increase in loan interest rates.
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