The Financial Supervision Commission (FSC) will receive additional BGN 2 million to carry out inspections of assets of pension funds and insurance companies operating in Bulgaria.

The procedure is analogical to the inspection of assets in the banking sector and is expected to end by August 2016. The amount of funds granted was determined on the basis of the expected value of the order which will be assigned following a competition.

However, the amount of funds is BGN 300,000 higher than what BNB planned as expenses for the methodology and concept of inspections and stress tests in the country.