ECB sets transitional provisions for minimum reserve requirements following introduction of euro in Bulgaria

13 October 2025

• Bulgarian banks also becoming subject to Eurosystem’s minimum reserve requirements after euro adoption
• Transitional provisions needed to integrate Bulgarian banks smoothly into Eurosystem’s minimum reserve requirements system

On 23 September 2025 the Executive Board of the European Central Bank (ECB) adopted a Decision on transitional provisions for the application of minimum reserves by the ECB following the introduction of the euro in Bulgaria on 1 January 2026 (ECB/2025/33).

As of 1 January 2026, credit institutions and branches of credit institutions (hereinafter referred to as “institutions”) located in Bulgaria will be subject to the Eurosystem’s minimum reserve requirements. Given that the regular reserve maintenance period runs from 23 December 2025 to 10 February 2026, transitional provisions are necessary to ensure that the relevant institutions are integrated smoothly into the Eurosystem’s minimum reserve system, without placing a disproportionate burden on institutions located in Bulgaria.

The Decision, in line with decisions taken when other countries joined the euro area, provides for a transitional maintenance period from 1 January to 10 February 2026 for the imposition of minimum reserve requirements on institutions located in Bulgaria. Furthermore, it sets out specific rules governing the application of minimum reserve requirements during the transitional period and describes the method for calculating the reserve base in relation to the transitional period for liabilities owed to institutions located in Bulgaria. In this respect, institutions located in other euro area countries may decide to deduct any liabilities owed to institutions located in Bulgaria from their reserve base for the maintenance periods from 23 December 2025 to 10 February 2026 and from 11 February to 24 March 2026.

The Decision will be published in the Official Journal of the European Union.

For media queries, please contact Clara Martín Marqués, tel.: +49 69 1344 17919.

Notes

• For further information on the Eurosystem’s minimum reserve system, see the dedicated page on the ECB’s website and the related explainer.
• See also Decision ECB/2025/33.