The Parliament will consider amendments to the Public Offering of Securities Act on second reading according to the adopted work program of the National Assembly, reports BTA. The amendments aim to introduce measures into Bulgarian legislation for the implementation of a European regulation on European green bonds and the optional disclosure of information on bonds offered on the market as environmentally sustainable and on bonds related to sustainability. These requirements must be met in order for issuers to be able to use the name "European green bonds". For bonds that do not meet the criteria for “European Green Bonds”, but are marketed as environmentally sustainable or sustainability-related bonds, the regulation contains rules for voluntary disclosure of information in a specific format. It is indicated that the Financial Supervision Commission is designated as the competent authority to supervise compliance with the requirements of the regulation.
Amendments to the Financial Collateral Agreements Act are on the agenda of the deputies as a fixed second item. They introduce general regulations on the close-out netting mechanism, which, like financial collateral, is a mechanism for managing credit risk in the context of hedging and other financial transactions and is the main means of reducing credit risks associated with OTC derivatives. The scope of the mechanism is limited, on the one hand, in view of the parties to the contract, who are entitled to conclude certain types of contracts, and on the other hand - in view of the subject matter of the contract.