National Bank of Romania (NBR) and Financial Compliance Regulations

The National Bank of Romania (NBR) is responsible for enforcing financial compliance regulations for various entities, including credit institutions, Romanian legal persons, and their branches operating within the European Union (EU) and beyond.

Regulatory Framework

According to Government Emergency Ordinance No. 99/2006 on credit institutions and capital adequacy, approved and amended by Law No. 227/2007, NBR conducts both individual and consolidated prudential supervision of these financial entities.

Protecting Depositor Interests and Banking Sector Robustness

The NBR sets financial rules, indicators, and prudential banking standards to safeguard depositor interests and maintain a robust banking sector. The central bank closely monitors these entities’ adherence and compliance with other legislative requirements.

Evaluation of Financial Institutions

Through Ordinance No. 99/2006 and its implementing regulations, NBR conducts a comprehensive evaluation of each institution’s strategies and risk management mechanisms.

Cooperation with Other Authorities

Effective supervision relies on cooperation. The NBR engages in written agreements with relevant authorities to coordinate and cooperate on supervisory duties.

Non-Bank Financial Institutions Oversight

Additionally, NBR oversees non-bank financial institutions registered locally under Government Ordinance No. 28/2006, ensuring they adhere to applicable Romanian laws.

Entities Subject to NBR Supervision

Entities subject to NBR supervision include those operating under financial anti-laundering and terrorist financing laws:

• Law No. 656/2002
• Government Emergency Ordinance No. 202/2008
• Law No. 535/2004
• Regulation for the enforcement of Law No. 656/2002
• NBR Regulation No. 9/2008
• NBR Regulation No. 28/2009

Identifying Infringements and Imposing Sanctions

The NBR holds the authority to identify infringements and impose sanctions under these regulations.