On September 23, 2025, the Executive Board of the European Central Bank (ECB) made a decision regarding transitional provisions for minimum reserve requirements following Bulgaria’s adoption of the euro on January 1, 2026. From this date, credit institutions and their branches in Bulgaria will need to comply with the Eurosystem’s minimum reserve requirements.
To facilitate a smooth integration into the Eurosystem’s framework, transitional provisions have been established. These provisions aim to prevent undue burdens on Bulgarian institutions during the transition period. The regular reserve maintenance period spans from December 23, 2025, to February 10, 2026. The ECB has set a transitional maintenance period from January 1 to February 10, 2026, specifically for Bulgarian institutions.
The decision outlines rules for applying minimum reserve requirements during this transitional phase and details how to calculate the reserve base concerning liabilities owed by Bulgarian institutions. Institutions in other euro area countries may choose to exclude liabilities owed to Bulgarian institutions from their reserve base calculations for maintenance periods between December 23, 2025, and March 24, 2026.
This decision will be officially published in the Official Journal of the European Union. For further information or media inquiries, Clara Martín Marqués can be contacted at +49 69 1344 17919.
Information from this article can be found here.
