2024-06-01 14:31:13
The Governing Council of the BNB adopted a choice to amend the license of “BORIKA” AD because the operator of the fee system for servicing buyer transfers in euros BISERA (beforehand named BISERA7-EUR) and to incorporate the BNB as a direct participant within the pan-European fee system STEP2, operated by EBA Clearing*. This was reported by the BNB on its web site.
The primary change within the exercise of the BISERA fee system is said to the transition from June 3, 2024 to a pre-funded settlement mannequin, which on the one hand will pace up the processing of buyer funds in euros between the contributors within the system, and on the opposite – will cut back systemic danger.
The renewal of the BISERA fee system is one other stage of Bulgaria’s preparation for eurozone membership, guaranteeing the compliance of the nationwide fee system with fashionable developments within the processing of buyer funds, preserving its competitiveness even after the adoption of the euro, the BNB notes in its announcement.
From July 9, 2024, it’s deliberate to make sure full SEPA (Single Euro Fee Space) accessibility of the BISERA fee system by means of the direct participation of the BNB in the STEP2 fee system. This permits banks and non-bank fee service suppliers in BISERA to be reachable events in STEP2 by means of the BNB and to order and obtain SEPA buyer transfers in euro to all 36 nations within the SEPA single euro fee space. It will result in a rise within the effectivity of the fee course of within the processing of buyer funds in euros, which is a prerequisite for lowering the prices of fee service suppliers, the BNB factors out.
The subsequent step within the implementation of the actions within the discipline of fee programs underneath the Nationwide Plan for the introduction of the euro is the availability by the top of the 12 months of the potential for speedy credit score transfers in euros by becoming a member of fee service suppliers within the nation and the BISERA fee system to the service of The Eurosystem for On the spot Funds TIPS (Goal On the spot Fee Settlement).