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Decisions of the National Bank of Romania Board in the conetxt of the economic effects of COVID-19 pandemic

With a view to concentrating resources to household and corporate financing and mitigating the impact on the financial statements or the operations of credit institutions, the National Bank of Romania Board convened in an emergency meeting and analysed a series of relevant measures from the perspective of bank resolution, amid the economic effects of COVID-19 pandemic and other decisions on the banking system functioning.

Due to these reasons, the National Bank of Romania Board decided:

  1. to postpone the deadline for collecting the annual contributions to the bank resolution fund for 2020 by 3 months, with the possibility of extension to up to 6 months;

  2. to delay the reporting deadlines of some information on resolution planning, in line with the approach communicated by the European Banking Authority;

  3. to correlate the terms and conditions on the minimum requirements for own funds and eligible liabilities (MREL) with the decisions adopted by the Supervisory Committee in the meeting of 20 March 2020.

The National Bank of Romania will send information letters to credit institutions with regard to the adopted decisions and the manner of applying the regulations in effect, according to the aforementioned.