Romania: Financial Sector Assessment Program-Technical Note-Crisis Preparedness and Safety Net

International Monetary Fund

No 2018/165, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note assesses the state of crisis preparedness and safety net in Romania. The bank resolution and crisis management toolkit has been significantly revamped since the last Financial Sector Assessment Program. The implementation of the Bank Resolution and Recovery Directive in Romania enhanced the National Bank of Romania’s (NBR) powers to deal with failing banks, while the Bank Deposit Guarantee Fund gained greater involvement in these processes. The NBR has been charged with new responsibilities that flow from its ongoing role as supervisory and resolution authority, namely the enforcement and analysis of recovery planning requirements and the preparation of resolution plans. Some elements needed for the effectiveness to the crisis management framework are still work-in-progress.

Keywords: ISCR; CR; bank Recovery; central bank; repo facility; resolvability assessment methodology; investment policy; resolution framework; NBR order No.; resolution planning; bank deposit Guarantee Fund; liquidation procedure; resolution college; NBR remit; NBR's repo facility; order No.; Bank resolution framework; Bank resolution; Crisis management; Crisis prevention; Crisis management framework; Global (search for similar items in EconPapers)
Pages: 27
Date: 2018-06-08
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=45968 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2018/165

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().