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01/01/2017

BG - Amendment of Bulgarian Regulation on Payment Services

On 2 September 2016, the Bulgarian National Bank has adopted amendments to its Regulation on “Terms and Procedure for Execution of Payment Transactions and Use of Payment Instruments” in order to bring the local payment settlement risk mechanisms in line with international and European requirements.

On 2 September 2016, the Bulgarian National Bank has adopted amendments to its Regulation on “Terms and Procedure for Execution of Payment Transactions and Use of Payment Instruments” in order to bring the local payment settlement risk mechanisms in line with international and European requirements. The amended Regulation is effective since 6 September 2016 and operators of payment and securities settlement systems had until 1 December 2016 to adjust their systems in line with the new requirements.