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.
Two castles in Romania's Cluj county, namely the Rákóczi-Bánffy Castle in Gilău and Bánffy Castle in Răscruci, will reopen in the coming weeks and host events dedicated to visitors. Rákóczi-Bánffy Castle in Gilău, one of Transylvania's historical monuments, will reopen its doors after a seven-year renovation process aimed at transforming it into a multifunctional cultural […]
The second edition of the Chicago Romanian Community Summit will take place on May 25, aiming to unite the Romanian community in Chicago. Leaders from various sectors - business, education, culture, and religion - will come together during the event to celebrate their shared heritage and establish a forum for addressing challenges. The summit also […]
In a recent promotional spot, Nicola Coughlan, Claudia Jessie, and Hannah Dodd, all part of the cast for Netflix’s hit show Bridgerton, played a game of True or False, Romanian Romance Edition. The game consisted of saying whether or not a particular superstition was actually true in Romanian folklore or if it was made up. The first […]
The organizers of the Untold and Neversea festivals in Romania announced the start of the 10th edition of their blood donation campaign - Blood Network. Under this initiative, blood donors can get free one-day tickets for the two summer events. This year's Blood Network runs between May 18 and June 30. Music fans can donate […]
Romanian mountaineer Adrian Ahriţculesei reached the summit of Mount Everest, Earth's highest mountain above sea level, after a 12-hour climb. The expedition, which started on April 11, is scheduled to end on May 30. "Ahriţculesei Adrian conquered the Roof of the World. He is on Everest (8,848 m). Next comes the hardest part of this […]
Hesburger, the largest chain of fast food restaurants in Finland and the Baltic countries, has entered the Romanian market with a first restaurant in Râmnicu Vâlcea. A family business with a history of over 50 years, Hesburger currently operates in nine countries and has over 470 restaurants. The company aims to open 10 new locations […]
