The Government introduced on Thursday, through a draft law, express provisions to ensure that the National Bank of Romania (BNR) assumes the role of competent authority at national level, in the area of securitisation, for entities under its supervision/monitoring, in application of Regulation (EU) 2017/2.402, including taking into account the amendments and additions introduced by Regulation (EU) 2021/557."Thus, the National Bank is the competent authority for a wide range of participants in securitisation operations, such as: institutional investors, sponsors, originators and initial creditors, if they are credit institutions under the supervision of the BNR; originators and initial creditors if they are non-bank financial institutions, Romanian legal entities; third parties, if the initiator or sponsor using the services of a third party is a credit institution under the supervision of the BNR or a non-bank financial institution," the press release reads.However, the draft law provides for a series of sanctions and administrative measures, as well as provisions on the publication on the BNR website of the administrative sanctions adopted.It also provides for the procedures, processes and mechanisms to be developed and applied by the entities for which the BNR is the competent authority, as well as provisions for the issuance of regulations by the BNR for the purpose of uniform application of the legislative framework in the area of securitisation, including the guidelines and recommendations issued by the European Banking Authority.The draft law will be sent to Parliament for debate and adoption.
Low-cost carrier Wizz Air announced three new routes from Bucharest, two additional aircraft, and a permanent base that will be established in the Romanian capital at the Băneasa Airport. The new base will open starting April 1, 2025. The move will see the airline increase its Bucharest fleet to 21 aircraft. "Bucharest is of crucial importance […]
Shopping center developer Argo Capital sold Shopping City Suceava in northeastern Romania to M Core for an undisclosed sum. The property offers a leasable area of 43,100 square meters, hosting over 100 retailers. According to real estate consultancy company iO Partners, which advised Argo Capital, this marks the largest transaction in the past five years […]
“Language Buddy,” a project launched in the city of Brașov, aims to support young migrants and refugees in learning the Romanian language. The same project trains students as mentors in intercultural pedagogy. “Language Buddy” is a model simultaneously implemented in eight European countries (Greece, Italy, Romania, Bulgaria, Spain, Portugal, Malta, and Austria) and is based […]
President Klaus Iohannis and prime minister Marcel Ciolacu reaffirmed Romania’s intention to combat anti-Semitism and promote the memory of Holocaust victims with the occasion of the International Day of Commemoration of the victims of the Holocaust. The head of the Romanian executive attended the ceremony dedicated to the international day and the remembrance of the […]
Bucharest, Ilfov, and Timiș emerged as the regions with the highest number of registered mortgages in Romania in 2024, followed by Iași and Constanța. According to an analysis conducted by online broker Ipotecare.ro and financial consultant and mortgage lending company SVN Credit Romania, roughly 86,600 mortgages were recorded nationwide last year, marking a 26.5% increase […]
Crevedia Retail Park, one of the largest strip malls in Romania, with a total leasable area of 11,400 sqm, opened on the Bucharest-Târgoviște road close to Bucharest on Monday, January 27. The total investment, by REPACO Capital and its partner Weststar Real Estate, amounts to EUR 15 million, partly co-financed by Banca Transilvania through an investment […]
