During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk, namely: (i) the regular analysis on the recalibration of the countercyclical capital buffer and (ii) the manner of implementing the buffer for other systemically important institutions in 2021
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.