This year’s second meeting of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 18 June 2024. During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk, namely: (i) examining the regular analysis on the recalibration of the countercyclical capital buffer, (ii) complying with Guidelines EBA/GL/2023/10 amending Guidelines EBA/GL/2020/14 on the specification and disclosure of systemic importance indicators, (iii) not applying through voluntary reciprocity the macroprudential policy measure adopted by Portugal, and (iv) keeping the Republic of Moldova’s material third country status for the Romanian banking sector in relation to the recognition and setting of countercyclical buffer rates. Moreover, the NCMO General Board was informed of: (i) the regular analysis on the recalibration of the systemic risk buffer, (ii) the systemic risks to financial stability identified by NCMO member authorities as per their specific area of competence, and (iii) the financing of companies and households. The NCMO General Board approved NCMO Recommendation No. R/2/2024 on the countercyclical capital buffer. Specifically, the buffer rate is kept at 1 percent, amid a risk environment dominated by geopolitical uncertainty. The banking sector’s adequate liquidity and solvency levels allow maintaining the capital reserves and Romania’s aligning with the EU-wide trend of using macroprudential instruments to enhance the resilience of credit institutions. The NCMO General Board also approved NCMO Recommendation No. R/3/2024 on compliance with Guidelines EBA/GL/2023/10 amending Guidelines EBA/GL/2020/14 on the specification and disclosure of systemic importance indicators. The NCMO recommendations and decisions were unanimously approved by the NCMO General Board. The NCMO was established by virtue of Law No. 12/2017 on the macroprudential oversight of the national financial system, thus ensuring that Recommendation of the European Systemic Risk Board (ESRB) No. 3/2011 on the macroprudential mandate of national authorities was implemented. The NCMO brings together representatives of the National Bank of Romania, the Financial Supervisory Authority and the Government of Romania. The NCMO’s mission is to ensure coordination in the field of macroprudential oversight of the national financial system by setting the macroprudential policy and the appropriate instruments for its implementation.
The National Bank of Romania (BNR) ended 2024 with a profit of roughly RON 3.8 billion (EUR 760 million), a 58% increase compared to the previous year, despite the operations it performed to maintain the national currency's stability. The figures, published in a report on Monday, June 23, show that operating costs for 2024 were […]
Over half of Romanians trust the United States and the United Kingdom, according to the Informat.ro - INSCOP Research Barometer conducted between May 26–30, 2025. Only 11% trust Russia, with higher levels of trust from among far-right voters of the Alliance for the Union of Romanians (AUR) party. The United States is trusted by 52.8% […]
Prahova County launched construction on a major cycling infrastructure project aimed at connecting local vineyard towns and promoting green mobility and sustainable tourism. The initiative, titled “Establishment of Bicycle Lanes on Bachus’s Route,” represents an investment of over RON 25 million, with RON 21 million coming from non-reimbursable funds provided by the Environmental Fund Administration. […]
Forvis Mazars, the international audit, tax and advisory services partnership, is pleased to announce the launch of its International German-Romanian Desk, an initiative aimed at addressing the demand for integrated cross-border tax and legal support between Germany and Romania. The Desk combines a highly qualified German team of lawyers with an interdisciplinary Romanian team of […]
Last week, the BBC reported that Romanian authorities have launched an investigation into Tristan Tate, brother of controversial internet personality Andrew Tate, over allegations he broke election laws by posting political content on social media during the recent presidential elections. The investigation, opened by the Ilfov county police according to the British newspaper's sources, is […]
Bucharest is facing growing environmental challenges, with traffic-related air pollution, shrinking green spaces, and worsening climate impacts threatening the health and well-being of its residents, according to the latest “State of the Environment in Bucharest” report released by the Bucharest Community Foundation through the Environmental Platform for Bucharest. For example, air pollution has already reached […]
