The General Board of the National Committee for Macroprudential Oversight (NCMO) convened for a meeting on 16 December 2019. During the meeting, Board members discussed topics such as the regular analysis on the recalibration of the countercyclical capital buffer, the issue of the worsening external imbalance from the perspective of macroeconomic stability, and the situation of savings and loan banks.
Taking into account market condition, the NCMO proactively and reactively issues recommendations on the countercyclical capital buffer, firms’ financial soundness or overindebtedness.
Art. 2 of Law No. 12/2017: 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.
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.