Annual Report 2024
Systemic risks remained high during 2024, mainly via the geopolitical tensions channel, compounded by an electoral effervescence globally, with elections held on various continents and in the world’s major economies. The new US administration is promoting protectionism to a greater extent than in the first term in office, while the correction of the US trade deficit vis-à-vis Europe, in line with the promise of a reindustrialisation domestically, is becoming a central topic in transatlantic relations. The conflict in Ukraine is further a major uncertainty factor, with no clear solution by end-2024, whereas the difficult situation in the Middle East has witnessed developments in the second half of the year that pave the way for securing regional stability.
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.