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CNSF analyzes terms of foreign loan agreed upon with Romania

The National Committee for Financial Stability (CNSF) in its ordinary meeting on Monday, April 6, analyzed the terms of the preventive financial engagement agreed upon by Romania with the International Monetary Fund (IMF), the European Union (EU), the World Bank and the European Bank for Reconstruction and Development, reads a release if the National Bank of Romania (BNR).

The CNSF members discussed the proposals for the reform of financial supervision in the European Union on the basis of the document drawn up by the expert group headed by Jacques de Lacrosiere and the point of view of the European Commission, which was made known on March 4, 2009.

In this context there was an exchange of opinions on the need to strengthen macro-prudential supervision in the EU in order to detect and prevent systemic risks and on the necessity to find a functional balance between competences at national and European level in the field of macro-prudential supervision.

The CNSF members also debated the results of the G 20 meeting in London, especially those referring to strengthening the financial supervision and increasing the role of international financial institutions.

Mugur Isarescu, BNR Governor and CNSF president, Bogdan Dragoi, Secretary of State with the Ministry of Public Finance, Gabriela Anghelache, chairperson of the National Securities Commission, Angela Toncescu, chairperson of the Insurance Supervisory Commission, and Mircea Oancea, chairman of the Commission Supervising the Private Pension System, attended the meeting.

CNSF was set up in July 2007 with a view to getting Romania in line with the EU requirements referring to the management of financial crises.

 

Sursa: http://www.rompress.ro

Tags: european financial romania bnr

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