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European Central Bank (ECB) officially announced banks in the new member statesmembers of the EU Banking Union, which it will supervise directly.
The official statement of the European Banking Supervision states: “After establishing close cooperation with the Bulgarian National Bank and Hrvatska narodna banka (Croatian National Bank) and after evaluating the importance of banks in these countries, today the Central Bank European Union (ECB) announced that it would initiate direct supervision of five banks in Bulgaria and eight banks in Croatia, in particular, the ECB would be responsible for direct supervision of four Bulgarian and seven Croatian subsidiaries of major existing banking groups based in Belgium, Greece , Italy and Austria, for the ECB to ensure that regulatory requirements are met by directly supervising at the individual level all banks that are part of significant groups and at least the three largest banks in each country, and that the ECB will also supervise directly two new institutions: DSK Bank AD in Bulgaria, from October 1, and Addiko Bank AG Group in Austria, to starting October 7. Supervision of the Group Addi ko Bank AG will include supervision of its subsidiaries Addiko Bank dd in Slovenia and Addiko Bank dd in Croatia. “
The communication specifies that The ECB will also be responsible for supervising moreinsignificant institutions and common procedures for all supervisors in both countries.
Banking supervision Explainthat for Bulgaria it will directly supervise “Unicredit Bulbank”, “DSK Bank” and UBB, because they are the three largest banks in our country. Raiffeisenbank (Bulgaria) and Eurobank Bulgaria (Postbank) are part of large banking groups.
The expectations and wishes of many financiers and members of the public that Fibank will be under the direct supervision of the ECB did not come true. In fact that was one of the important arguments due to the strong pressure exerted by certain circles for our entry into the Banking Union, because it would guarantee a more independent and professional banking supervision.
ECB refused to comply with such wishes in certain circles in Bulgaria. It did not include Fibank in its list, firstly, because it is not among the three largest banks in Bulgaria and, secondly, because it is not part of an international banking group.
Therefore, the ECB has essentially judged that Bulgarian banking supervision is professional and independent enoughto leave him responsible for the rest of the banking sector.
According to unofficial information, the current decision of the ECB not good news for the owners and management of Fibank, who trusted that they would be under the direct supervision of the ECB and thus end any speculation about the bank.
The ECB is not interested in national specifications in the commercial relations of the member states of the banking union and refuses to take into account the mental prominences of certain professional and social strata in them.
In fact, it appears that the ECB is trying to avoid taking banks under its direct supervision with domestic capital. This is evident from the accepted list for direct supervision of credit institutions in Croatia.
In Croatia, Zagreb is under the direct supervision of the Zagreb Bank, Privredna Banka, Erste Steirmarkische Bank, PBZ stambena stedionica, the local ban group of the Austrian Raiffeisenbank, the Croatian subsidiary of Sberbank and Adiko Bank. “. All these banks are property of the large Italian, Austrian and Russian banking groups.
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