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  Practical-Applied Model for the Recognition of Impairment Losses for Defaulted Exposures in Commercial Banks

  The Bulgarian banking system has the practice of determining the impairment losses, which is entirely built on the concepts of Ordinance No.9 of BNB, cancelled in April 2014. After its cancellation any bank credit institution must take action to establish a new policy for the recognition and measurement of their risk exposures and on these grounds ... The Bulgarian banking system has the practice of determining the impairment losses, which is entirely built on the concepts of Ordinance No.9 of BNB, cancelled in April 2014. After its cancellation any bank credit institution must take action to establish a new policy for the recognition and measurement of their risk exposures and on these grounds to take action to determine the extent of devaluation for a credit risk. In connection with this, the parameter "defaulted exposure" can be used for the purposes of internal bank systems for the recognition and measurement of risk exposures in the decision for the recognition of impairment for credit risk. Defaulted exposure can be defined as an indicator of the level of risk that a bank can take, depending on the ability and desire of a borrower to meet their obligations on the debt. The defaulted exposure is equal to the carrying value of the exposure calculated by the applicable accounting standards.

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  Cultural Policy of Municipalities – Local Population’s Evaluation

  An essential element of public policy is the field of culture. In this sense, a significant milestone in the implementation of cultural policy, in terms of the distinctiveness of municipalities, is the assessment of the population, for which it is developed. The aim of this publication is to present the support of the local population for cultural ... An essential element of public policy is the field of culture. In this sense, a significant milestone in the implementation of cultural policy, in terms of the distinctiveness of municipalities, is the assessment of the population, for which it is developed. The aim of this publication is to present the support of the local population for cultural policy by the assessment of included in it: cultural activities, priorities, segmentation of users (residents and visitors) and coherence with other public policies. The article presents the results of the population survey on cultural policy implemented in six municipalities in Bulgaria - Kavarna, Balchik, Biala, Shabla, Avren and Dolni Chiflik. With the help of questionnaires were obtained estimates for cultural activities, infrastructure priorities and bottlenecks, as well as consistency with other public policies. Top rated are Kavarna and Balchik on the variety, intensity of the cultural calendar and cultural infrastructure, as well as the consistency of their public policies. Overall, the highest degree of consistency was observed between cultural policy and tourism. The results show that in the segmentation of users we cannot give priority to one category only - locals or visitors. They are equally represented as beneficients of cultural policy.

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  Set-Off as a Means for Extinguishing Financial Obligations

  The widely spread monetary character of financial receivables and obligations allows the use of the legal concept of set-off in financial law as well. This article considers the influence of the specificities of regulated public relations and the sovereign method applied in financial law on the requirements and the conditions for the use of ... The widely spread monetary character of financial receivables and obligations allows the use of the legal concept of set-off in financial law as well. This article considers the influence of the specificities of regulated public relations and the sovereign method applied in financial law on the requirements and the conditions for the use of set-off for the purposes of the discharge of financial receivables and obligations. This article analyses the general and the special legal framework regulating the the requirements and the conditions for the use of set-off for the purposes of the discharge of financial receivables and obligations. It considers different cases where the set-off of financial receivables and obligations is allowed – set-off by revenue organs, set-off by the organ competent to determine the financial obligation, set-off during an enforcement procedure, as well set-off of financial receivables and obligations in accordance with certain special laws. A particular attention is given to the sovereign act on the basis of which the set-off of financial receivables and obligations is performed – the set-off act, as well as the organs competent for its issuance.