Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. The National Committee for Macroprudential Oversight meeting...

The National Committee for Macroprudential Oversight meeting of 28 March 2024

April 29, 2024

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.

Read in full - click here
Bucharest Exchange-listed DN AGRAR plans investments in second compost factory and solar panels

DN AGRAR Group, the largest integrated livestock farm in Romania, listed on the Bucharest Stock Exchange (BVB symbol: DN), announced plans for financing new investment projects set to begin in 2025, with a total value of approximately EUR 3.4 million. The planned investments include a new composting factory at the Lacto Agrar farm, the second […]

Romania faces coldest week of this winter with snow and freezing weather, meteorologists say

Romania is experiencing its coldest week of this winter, with snow and temperatures dropping as low as -20°C, according to meteorologists quoted by Digi24. In the southern and southeastern parts of the country, including Bucharest, snowfall is expected to reach up to 20 cm, and blizzards are expected to make...

Romanian foreign minister: NATO eastern flank states must participate on Ukraine peace discussions

Romania’s foreign minister, Emil Hurezeanu, argued during a meeting at the Munich Security Conference on Sunday, February 16, that NATO eastern flank states must participate in discussions on all aspects that guarantee a just solution to the war in Ukraine. Hurezeanu made the statements during a meeting with counterparts present at the Munich Security Conference […]

PwC Autofacts: Romania's new car sales set to grow by 1.1% in 2025, production expected to decline

New car sales in Romania are expected to rise by 1.1% in 2025, compared to the previous year, with the country being one of only two markets in Central Europe, alongside Slovakia, to experience growth, according to the latest PwC Autofacts report. Slovakia is expected to see a 2% increase in sales, while Poland and […]

Hills of Change: Symphony by Romanian and Norwegian composers has local premiere in Iași

The Hills of Change, a symphony by Romanian and Norwegian composers, will have its local premiere at a concert on February 20 at the Student Culture House in Iași. The symphonic work in seven movements was composed by Tirill Mohn, Martin Romberg and Kristin Bolstad (Norway) and Sabina Ulubeanu, Paul Pintilie, Alexei Țurcan and Alexandru […]

US vice president says Romania canceled presidential election over “flimsy intelligence suspicions” and “continental pressure”

US vice president JD Vance criticized Romania's decision to annul its presidential elections last December, saying the top court's ruling was based on "flimsy suspicions of an intelligence agency and enormous pressure from its continental neighbors." Speaking at the Munich Security Conference, he called the move unjustified and warned of the broader consequences...