An overview of Banking & Finance laws and regulations applicable in Romania

The main national authority for banking regulation, supervision and resolution in Romania is the National Bank of Romania (the “NBR”). The NBR’s main goal is to assure and maintain price stability, having authority over the circulation of money, foreign currency, lending and payment policy, and prudential banking authorization and supervision.

The NBR also shares competences with the Financial Supervisory Authority (the “FSA”). In addition to its role in respect of certain credit institutions, the FSA exercises its powers regarding the regulation and supervision of the insurance, private pension and capital markets.

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