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ECB lists Bulgarian and Croatian banks it will directly supervise as of October 2020

Christian Fernsby |
The European Central Bank (ECB), after establishing close cooperation with Българска народна банка (Bulgarian National Bank) and Hrvatska narodna banka (Croatian National Bank) and assessing the significance of the countries’ banks, announced that it will start directly supervising five banks in Bulgaria and eight banks in Croatia.

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In particular, the ECB will be responsible for directly supervising four Bulgarian and seven Croatian subsidiaries of existing significant banking groups headquartered in Belgium, Greece, Italy and Austria.

This ensures that the ECB fulfils the regulatory requirements that it must directly supervise a) at an individual level all banks belonging to significant groups, and b) at least the three most significant banks in each country.

The ECB will also directly supervise two new institutions, DSK Bank AD in Bulgaria as of 1 October and Addiko Bank AG group in Austria as of 7 October.

The supervision of Addiko Bank AG group will include supervision of its subsidiaries Addiko Bank d.d. in Slovenia and Addiko Bank d.d. in Croatia.

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