The National Committee for Macroprudential Oversight

The NCMO meeting of 20 June 2023

This year’s second meeting of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 20 June 2023.

Annual Report CNSM 2021

The international macro-financial environment was marked by the evolution of the COVID-19 pandemic during 2021 as well, with the authorities further taking measures to mitigate the identified vulnerabilities and address new challenges. On the domestic front, the prudent stance of macroprudential policy materialised in an increase of countercyclical capital requirements, given the high levels of liquidity and profitability indicators of the banking sector, which allow capital conservation, without creating lending constraints and hindering eligible borrowers’ access to credit.

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.