Papers on "Bulgarian Financial Markets and Institutions" and similar term paper topics

Paper #002272 :: Bulgarian Financial Markets and Institutions
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A comparison of the financial markets, institutions and instruments existing in Bulgaria with those in the United States of America.

Written in 2001; 1,944 words; 10 sources; $ 61.95

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."

Tags: communism free trade

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