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 SIGNAL IDUNA companies concluded 2024 with a total gross written premium volume of approximately RON 424 million, marking an aggregated growth of 16% compared to the previous year. These financial results reflect the consolidation of a sustainable development strategy, supported by portfolio expansion, digitalization, the launch of new solutions for both individual and corporate […]
Kantar Romania launched, during an event dedicated to their clients, "The Trust Factor – Building Brands That Endure Uncertainty", the top 20 brands that manage to inspire the greatest confidence among the Romanian consumers, based on the analysis of 162 brands from 12 sectors*. In a period marked by uncertainty and skepticism, trust becomes the […]
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
