Annual Report 2022

The war launched by Russia against Ukraine, the largest military conflict in Europe since the end of World War II, was the prevailing issue of 2022. After two years marked by extraordinary uncertainty as a result of the pandemic, the outbreak of such a full-scale war in Europe took the world economy by surprise. The latter was still vulnerable amid the policies adopted in order to fend off the effects of the health crisis, and the shock waves from the war – especially in the energy and agri-food markets – put an additional strain on global economic recovery and revival.

Legal Framework

The fundamental objective of the Committee shall be to contribute to safeguarding financial stability, also by strengthening the resilience of the financial system and by containing the build-up of systemic risks, thereby ensuring a sustainable contribution of the financial sector to economic growth.

Institutional Cooperation

The NCMO is an entity without legal personality, comprised of representatives from the National Bank of Romania, the Financial Supervisory Authority, the Government (Ministry of Public Finance), as well as from the Bank Deposit Guarantee Fund.