Bulgaria moves to adopt banking law overhaul amid Eurozone push

The Bulgarian National Assembly began debating amendments to the Law on Credit Institutions, aimed at aligning the country's banking framework with European Union directives as it prepares for Eurozone membership. The draft introduces stricter supervisory powers, new sanction mechanisms for banks and financial holdings, and tighter rules on the independence of the Bulgarian National Bank’s management, including a 14‑year term limit for board members appointed after 11 January 2026 (excluding the governor).

The legislation also proposes changes to the banking insolvency regime and deposit‑guarantee law to harmonise them with the European Central Bank’s oversight. In the same session, MPs will examine an revised defence procurement plan for the acquisition of Stryker infantry fighting vehicles, adjusting financial parameters after the United States requested higher prices.