In compliance with Art. 12, para 1, item 6 of the Law on Bank Deposit Guarantee the Governing Council of the Bulgarian National Bank approved on 28 April 2011 the Report on the Performance of the 2010 Administrative Expenses Budget and the Administrative Expenses Budget for 2011 of the Bulgarian Deposit Insurance Fund.

The reported 2010 BDIF expenses total BGN 1,437,123, which accounts for savings of 8% over the approved 2010 budget.

The 2011 Administrative Expenses Budget of the Bulgarian Deposit Insurance Fund amounts to BGN 1,624,400. The budget provides for the daily performance of BDIF mandates and the achievement of the goals set for 2011, ensuing from the passed and forthcoming amendments to the EU Directive on deposit guarantee schemes, as well as BDIF role as a financial safety net player.

BDIF major goals in 2011 are creating an automated system for payout of guaranteed deposits, given the shortened deadline for compensating depositors and the requirement for regular testing of the deposit guarantee scheme, along with completing a unified information system ensuring a centralized database for BDIF employment aimed at information management and its application for analyses and reporting.