Romania Financial Sector Assessment Program : Detailed Assessment of Observance – Basel Core Principles for Effective Banking Supervision
As an European Union (EU) Member State, Romania is subject and aligned to the EU common regulatory framework for banking supervision. The EU regulatory framework for banking supervision has been subject to significant changes since the 2008 global...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/782671532707761042/Romania-Financial-sector-assessment-program-detailed-assessment-of-observance-basel-core-principles-for-effective-banking-supervision http://hdl.handle.net/10986/30219 |
| Summary: | As an European Union (EU) Member State,
Romania is subject and aligned to the EU common regulatory
framework for banking supervision. The EU regulatory
framework for banking supervision has been subject to
significant changes since the 2008 global financial crisis
and the subsequent sovereign debt crisis. The adoption of
the Capital Requirements Regulation and the Capital
Requirements Directive IV (CRR/CRD IV) which forms the
Single Rule Book was an important step towards stronger
prudential regulation. Given that a large part of
Romania's banking system is owned by Eurozone banks,
the Single Supervisory Mechanism (SSM), as the home
supervisor for Eurozone banks, is a key partner of the
National Bank of Romania (NBR). Prudential regulations of
the NBR are broadly aligned to the requirements of the Basel
Core Principles (BCP). As of 2017, the NBR has identified 11
banks as systematically important, of which 8 are supervised
at group level by the SSM. |
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