Power Your Document
Bulgarian Financial Markets and Institutions
Comparison Essay # 2272
Bulgarian Financial Markets and Institutions
A comparison of the financial markets, institutions and instruments existing in Bulgaria with those in the United States of America.
1,944 words (approx. 7.8 pages) |
10 sources |
2001
Paper Summary:
This paper compares Bulgarian and American financial markets, institutions and instruments on the level of existence and development. Following a comprehensive comparison table is the actual explanation of every type of financial institutions/instrument in the context of its development in Bulgaria. A part of the paper points financial institutions/instruments that exist in Bulgaria but not in the USA. Another part of the paper proposes development of the most needed financial institution at present.From the Paper:
"One of the institutions that does not exist in the United States but is present in Bulgaria regards the central bank of the country. Bulgarian National Bank was created in 1879 and was initially functioning as a regular bank. During the Communist regime in the country its operation was terminated and in 1991 was resumed with the acceptance of the Central Bank Law and The Bank and Credit Law. These laws were changed significantly in 1997 when Bulgaria was placed under Currency Board. Presently the central bank is transformed in such a way so that it can work as a Currency Board. Its balance includes both Bank and Currency Board entries. The currency reserve, which includes foreign currency, gold and foreign securities, covers the money in circulation, commercial banks deposits and government deposits. The Lev is tied to the Deutch Mark (1DEM=1Lev). According to the present regulations, BNB cannot give credit the government. Commercial banks are allowed credit but to a limited extent. This is possible only in cases when systematic liquidation risk exists. The maximum period of credit is 3 months and a deposit of gold of foreign securities is required. Yet, the credit of commercial banks is possible only if "surplus" in the balance of BNB exists."More papers on Bulgarian Financial Markets and Institutions:
Cite this paper
APA Citation:
Bulgarian Financial Markets and Institutions (2012, January 15). Retrieved February 13, 2012, from http://www.academon.com/Comparison-Essay-Bulgarian-Financial-Markets-and-Institutions/2272
MLA Citation:
"Bulgarian Financial Markets and Institutions" 15 January 2012. Web. 13 Feb. 2012. <http://www.academon.com/Comparison-Essay-Bulgarian-Financial-Markets-and-Institutions/2272>
Downloadable version: $ 37.95
You will be able to download, read and edit this file once you buy this document
Shopping Cart
| Currency: |
Published by:
koietam
Publisher Since:
Oct 14, 2001 AUBG has its doors in 1991 and its student body to approximately 700 students. In addition to Bulgarian students, AUBG enrolls students from Albania, Romania, Moldova, Yugoslavia, Georgia, Kazakhstan, Mongolia, and the United States to name only a few. The faculty is predominantly American. However, an increasing number of scholars with experience in Western higher education are being recruited from Bulgaria and from other countries. AUBG has hosted numerous Fulbright scholars since its establishment, as well as visiting faculty from the United States, the United Kingdom and other Bulgarian universities. For more information visit www.aubg.bg.
Explore AcaDemon
Buyer Assistance
Seller Assistance
Share Our Success