The first meeting in 2024 of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 28 March 2024. During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk, namely: (i) the regular analysis on the recalibration of the countercyclical capital buffer and (ii) the draft Annual Report of the National Committee for Macroprudential Oversight for 2023. The NCMO General Board was informed of: (i) the actions taken by the addressees in order to implement the recommendations issued by the NCMO in 2023, as well as those issued in the previous period; (ii) the calendar for implementing measures domestically in view of the ESRB recommendations; (iii) the systemic risks to financial stability identified by member authorities as per their specific area of competence; (iv) the risks generated by the commercial real estate market; (v) the financing of companies and households, and (vi) the credit institutions’ compliance with the minimum requirement for own funds and eligible liabilities (MREL) as at the reference date of 1 January 2024 (the end of the transition period laid down in the European framework), which shall be further met on a permanent basis. The NCMO General Board approved NCMO Recommendation No. R/1/2024 on the countercyclical capital buffer. Specifically, the buffer rate is kept at 1 percent, in order to adequately manage cyclical systemic risks, inter alia amid the regional or global geopolitical uncertainties. The decision is further warranted, given that the banking sector’s liquidity and solvency levels are adequate, and profitability allows maintaining the capital reserves. This line of action is consistent with the European trend in the macroprudential field, by proactively using the instruments available to the authorities for strengthening the resilience of credit institutions, inter alia by applying, in a forward-looking manner, a positive rate of the countercyclical capital buffer. The NCMO recommendation 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.
Romanian gas producer Romgaz (BVB: SNG) has filed an action with the European Court of Justice against the European Commission, requesting the annulment of certain regulations that impose CO2 storage quotas on oil and gas companies. The company considers the quotas disproportionate. It is the first time that Romgaz has initiated a direct action against […]
Bucharest residents can donate clothes in good condition, non-perishable food, and toys for the families affected by the explosion that left 3 dead and many others injured, and nearly collapsed the apartment building in District 5 on Friday, October 17. "Following the devastating explosion in District 5, entire families have been left without housing, and […]
RoPower Nuclear, the developer of the SMR (small modular reactor) project in Doiceşti, Romania, announced the signing of a contract with Studsvik Scandpower, one of the global leaders in software dedicated to nuclear fuel analysis, on Friday, October 17. The president of the Swedish group emphasized that Romania is setting an important precedent for the […]
Energy regulator ANRE has launched an investigation into whether the gas distributor followed proper safety procedures before the powerful explosion that killed three people and injured others at an apartment building in Bucharest’s Rahova district on Friday morning, October 17. According to
In the first half of 2025, Romania ranked 52nd worldwide among the countries most frequently affected by cyber activities, according to the new Microsoft Digital Defense Report. The sixth annual report, covering trends from July 2024 to June 2025, emphasizes that traditional security measures are no longer sufficient. Modern defenses and strong collaboration between industries […]
Via Transilvanica, the long-distance trail that traverses Romania’s cultural, historical, and natural landscapes, has been awarded silver in the “Peace, understanding and inclusion” category at the 2025 Europe Responsible Tourism Awards. The initiative is organized by the International Centre for Responsible Tourism Global (ICRT Global). The award ceremony took place at the Press Club Brussels […]
