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Topic: National Bank of Romania

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Romania

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Romania - Wikipedia, the free encyclopedia Romania now has one of the most liberal taxation systems in Europe, and this, along with increased foreign investment, is expected to boost economic growth in the coming years, as well as lower corruption and bring to light the grey economy. In August 1944 Romania turned against Germany and joined the Red Army, but its role in the defeat of Germany was not recognised by the 1946 Treaty of Paris. Tăriceanu government imposed major fiscal reforms, replacing Romania's progressive tax system with a 16% flat tax on both personal income and company profit. en.wikipedia.org /wiki/Romania

LAW58_1998 The banks shall be under an obligation to present to the National Bank of Romania their financial statements consisting of elements of the balance sheet as well as other data requested by the National Bank of Romania, at the terms and in the form established by regulations. Banks which are Romanian juristic persons may open representations and branches or may set up subsidiaries abroad only with the previous approval of the National Bank of Romania, in keeping with the regulations issued by it. The value of the bank's assets and liabilities shall be calculated according to the evalution procedures provided under the regulations of the National Bank of Romania. www.dsclex.ro /law/law58_1998.htm

Romania Letter of Intent, Memorandum on Economic Policies and Technical Memorandum of Understanding, May 16, 2000 The overall wage bill of the régies autonomes and national companies will be strictly limited to four times their level in 1999 QIV, and will be adjusted downwards in line with employment cuts that do not raise labor productivity, for example owing to the outsourcing of an activity whereby staff are transferred to other enterprises. For program purposes, net credit of the banking system to the consolidated general government is defined as all claims of the banking system on the consolidated general government less all deposits of the consolidated general government with the banking system. For program purposes, the assumption of enterprise debt to banks by the consolidated general government and the issuing of a guarantee to assume enterprise debt to banks are treated as being equivalent. www.imf.org /external/np/loi/2000/rom/01

InfoCompanies Romania business guide: Banking System As central bank of the Romanian state, the National Bank of Romania (here in after referred to as "NBR") is organized and functions in accordance with its statutes, adopted by Law no. 101/1998. Banks that are foreign legal entities are obliged to notify the NBR with respect to the opening of representative offices in Romania, and the authorization of the functioning thereof is issued by the Ministry of Industry and Resources. The year 2002 was the competition year amongst the commercial banks in Romania as regards the retail segment, which has acknowledged a growing demand coming especially from individuals interested in taking credits for dwellings, cars or purchase of other goods, leading to an increase by almost 30%of the non-governmental credits, in real terms. www.infocompanies.dap.ro /p10.php

Investment in Romania On a permanent basis, the National Bank of Romania is working with the International Monetary Fund, the European Bank for Reconstruction and Development and specialised consultants from the World Bank, as well as with other organisations, in developing banking policies and procedures. In order to ensure the stability of the banking system, the National Bank of Romania introduced certain requirements to be met by such individuals or commercial entities (Government Emergency Ordinance 137/2001), as follows: (i) have a sound financial situation. This agency is meant to restructure the banks' portfolio, by "cleaning" it of non-performing loans, receivables etc. Thus, the agency purchases the non-performing assets at their net value from the bank and then tries to capitalise on them, either by foreclosing the collateral, or by public tenders or any other legal means. www.kpmg.ro /romania/newsletter/main_chapter5.htm

Romanian leu - Wikipedia, the free encyclopedia www.bnro.ro - Banca Naţională a României (National Bank of Romania) The Romanian leu (plural: lei ; ISO 4217 code ROL) is the national currency of Romania. The name was kept as a generic term for money, and became the offical name of the national currency in 1880. en.wikipedia.org /wiki/Romanian_leu

National Bank of Romania - Wikipedia, the free encyclopedia On 28 July 1959, a armed group of six Jewish intellectuals and members of the Romanian Communist Party apparatus (the Ioanid Gang : Alexandru Ioanid, Paul Ioanid, Igor Sevianu, Monica Sevianu, Saşa Muşat and Haralambrie Obedeanu), stole from an armored car of the National Bank of Romania 1,600,000 lei (about 250,000 1959 dollars). In 1916, the valuables of the National Bank of Romania, together with many other valuables (the It became the only bank of Communist Romania. en.wikipedia.org /wiki/National_Bank_of_Romania

bs1 Authority for Bank Risks is an intermediary centre that manages on behalf of the National Bank of Romania the information related to bank risks and to card frauds, in terms of keeping the bank secret. In Romania, the foreign bank branches are subject to the National Bank of Romania licence just like the subsidiaries, and are bound to comply with Romanian commercial and banking law. One of the key elements of the Romanian banking system restructuring process was the transformation of the role played by the National Bank of Romania into a more traditional role of a central bank. www.aneir-cpce.ro /chapter5/bs1.htm

Winne.com - Report on Romania, The long road to integration The National Bank of Romania is an independent Central Bank subordinated to the Parliament and it has among its responsibilities the monetary policy, exchange rate policy, administration of foreign reserves and banking regulations and supervision. In 1999 there was a decrease in the forex reserves of the National Bank of Romania due to the fact that we settled particularly large redemptions, one with Samurai Bonds and another one with Merryl Lynch Bond. The forex reserves of the commercial banks were never nationalized, confiscated or surrendered to the official reserves of the National Bank of Romania not even in our most difficult periods. www.winne.com /romania2/to13.html

Romania Info No. 2 (29) According to a report of the National Commission for Statistics on the trend of the population growth in Romania between 1990 and 1994, the population may decrease by 2.5 million in the next 30 years, in case the present birth rate is maintained. Romania's participation in the new community programs has also been taken into account, especially in the field of education scientific research and youth, as well as the assistance of the European Union through the Phare program in the Process of reform and in the preparation for admission to the European Union. Nominated by Euromoney as the best performing bank on the developing markets, ING Bank is the first to have become an agent with the European Bank for Reconstruction and Development (BERD), and, at the same time, the first bank which, together with the World Bank, has become the first grantor of syndicate loans. www.kappa.ro /guv96/roin-2.html

Romania Profile: Economy Romania began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. Washington, DC; aggregates calculated for the Human Development Report Office by the World Bank.; Global Edge ; United Nations Development Program. via ciesin.org; calculated on the basis of data on foreign direct investment and GDP from World Bank. www.nationmaster.com /country/ro/Economy

Synercom.org - Projects - Romania Electronic Payment System The National Bank of Romania (NBR) will further ensure the oversight of the payment system, according to the laws of Romania. As a result of the cooperation in the banking sector, a key role in the implementation of the EPS will have TransFonD, a joint stock company having the NBR and the commercial banks as shareholders, who will ensure the technical management of the future interbank payment system. The aimed result of the Phare financed project is a state-of-the-art system based on a state of the art technology. www.synercom.org /entities/projects/eps.html

Banks.html Ruling 4/2004 of the National Bank of Romania, re setting up of Banking Risk Authority The body is administrating (on behalf of NBR) for scope of the users, the banking risk information and information re card fraud (while preserving the banking secret). Norm 10/2004 of the National Bank of Romania re authorisation of: banks, institutions (other then banks) which are issuing electronic money, saving houses for building homes, and Romanian branches of foreign credit institutions Order 1, Instruction 1, Ruling 1, Ruling 2, Ruling 3, and Ruling 4/2004 of the Guarantee of Bank Deposits Fund, re annual contributions, payment and declaration procedures, compensation payments, and information that should be available to clients in connection with Guarantee of Bank Deposits Fund www.globaltaxservices.ro /Banks.html

Financial Info During 1 March - 30 June 2005, the National Bank of Romania will be publishing the exchange rates in RON, for information purposes only. The exchange rates on this list are based on the quotation of the banks licensed to perform foreign exchange transactions. Note: Reference Rate was introduced through NBR's Circular No.3 of 1 February 2002 and is calculated as an arithmetic mean weighted to the volume of transactions, of the interest rates on NBR's deposit-taking and reverse-repo operations in the month prior to that of the announcement. www.bnro.ro /En/Info

Press Release on 18 October 2004 - Visit of the ECB'S President to the National Bank of Romania President Trichet and Governor Isarescu elaborated on the future cooperation between the Eurosystem and the National Bank of Romania in preparation of the membership of the National Bank of Romania in the European System of Central Banks upon accession of Romania to the European Union. Jean-Claude Trichet, President of the European Central Bank visited the National Bank of Romania today and met with Governor Mugur Isarescu and the Executive Board of the National Bank of Romania. Visit of the ECB'S President to the National Bank of Romania www.banque-france.fr /gb/eurosys/bce/cpresse/041018.htm

ALPHA BANK Romania The object of activity of ALPHA BANK ROMANIA SA is the one authorised by the National Bank of Romania for ALPHA BANK ROMANIA SA, according to the Order of the National Bank of Romania no. 1/21.01.1999 as amended, which was issued in accordance with the provisions of art.8 of the Law no.58/1998 - Banking Law. The bank's object of activity comprises all the activities and banking services mainly monetary mediation (CAEN 6512) and also those specific for :6521, 6522, 6523 and includes: www.alphabank.ro /romania/object_d.htm

EMBASSY OF ROMANIA The debates focused on several topical issues such as the impact of the flat tax on inward investments, capital market evolution as seen by Romania's National Bank, privatization of the banking sector, main features of the Romanian business climate and new opportunities offered by it. Officials from the Romanian public sector, bankers and international financial experts based in London presented recent evolutions in the Romanian fiscal and monetary fields and assessments of the likely impact of the liberalizing economic measures upon the business community, as well as future developments relevant to the British investment circles. Standard and Poor's, Bloomberg, Dow Jones NewsWire, Reuters, JP Morgan, Credit Suisse First Boston, Merrill Lynch, Deutsche Bank, BERD, Goldman Sachs, Mizuho Corporate Bank Ltd., London School of Economics, London Business School, ING Investment Bank were represented at the seminar. www.roemb.co.uk /Business/LSE.htm

IllumiRate Directory Business & Finance Financial Services Banking Banks Central Banks National Bank of Belgium: issuing banknotes and conducting the monetary policy. The central bank of Romania; the only institute authorized to issue monetary insignia, banknote and coins for payment on Romanian territory. The Federal Reserve Bank of Saint Louis is one of 12 regional Reserve Banks across the US. www.illumirate.com /cat_items.cfm?Cat_ID=439773

Montran : Clients SIA and Montran providing software for the implementation of the National Bank of Romania's Interbank Payment System, comprising of Real Time Gross Settlement (RTGS), Automated Clearing House (ACH) and Government Securities Registration Settlement (GSRS) systems, utilizing Java™ Enterprise (J2EE). Bank of China implements Montran's browser-based Payments Workstation to connect their foreign branches and affiliates to their Montran GPS System. Bank of Mauritius implements the Montran RTGS System for the Mauritius Automated Clearing and Settlement System. www.montran.com /clients.php

Bay Vision ::: Romania The NBR (Central Bank of Romania) homepage: Banks and Banking regulations, Organisation, Financial info (FOREX, Money Market aso), Publications,... Romania - A Country Study, Country Profile: geography, society, economy, transportation, communication, government, politics, national security,... Includes contact for the Embassy of Romania to Canada in Ottawa, and also for the General Consulates of Romania in Montreal and Toronto, and the Honorary... www.bayvision.com /categories.php?parent=1865

Banks in Romania A non-profit education and training institution founded by the National Bank of Romania and the Romanian Banks' Association in October 1991. National Investment Bank for Industrial Development (an affiliate of National Bank of Greece). Alpha Bank Romania S.A. Established in 1993, as a joint venture of Alpha Credit Bank Group of Companies, Greece (95,04%) and Banca Monte dei Paschi di Siena, Italy (4,76%). romania-on-line.net /business/banks.htm

Romania Much economic restructuring remains to be carried out before Romania can achieve its hope of joining the EU. Former communists dominated the government until 1996 when they were swept from power. If you know a site, that should be listed here, please let me know www.nationsonline.org /oneworld/romania.htm

Business Consulting Services - "International Finance Consultants" Their intention is to invest in these countries mainly for Humanitarian and Economic Development Projects via banks they invest in with the approval of their respective countries' our client recently presented to a prospect bank for your review. This Group is currently focused in getting involved with banks in www.bcslinks.com

Welcome to ABN AMRO ABN AMRO opened the acceptance period for the offer for Banca Antonveneta on 19 May. All of the latest information related to the intended bid can be found here. The decision to sell Nachenius, Tjeenk and Co is in accordance with ABN AMRO Private Banking's strategy to focus on core activities. Copyright © 1998-2005 ABN AMRO Bank N.V. All rights reserved. www.abnamro.com

Central Bank Websites Nationale Bank van Belgie - Banque Nationale de Belgique The Central Bank of the Islamic Republic of Iran Central Bank of the Republic of San Marino www.bis.org /cbanks.htm

Sitemap Romania and the World Bank - by World Bank Office Romania Romania Macroeconomic Outlook - by HVB Bank Romania SME Sector in Romania - A critical evaluation of the Romanian business innovation - by UniCredit Romania www.major-companies.ro /business_digest/sitemap.htm

"Banks and Banking >> Global Business Bureau" - the Open Directory Project - National Bank of the Republic of Belarus - National Bank of the Republic of Macedonia - Central Bank of the United Arab Emirates www.1800miti.com /league/page423.html

Alphabetical Listing by Country National Statistical Institute of the Republic of Bulgaria National Statistical Service of the Republic of Armenia Click on an option to go to the Web site cs3-hq.oecd.org /scripts/stats/source/alpha.asp

Governments on the WWW: Romania Banca Nationala a României (BNR) [National Bank of Romania] Delegation of Romania to the UNESCO in Paris Permanent Mission of Romania to the United Nations in New York www.gksoft.com /govt/en/ro.html

Reserve-Bank.com - Banks Worldwide - Banks in Romania Banca Agricola Sucursala Vâlcea - Agricultural Bank of Valcea County Banca Romana Pentru Dezvoltare - Romanian Bank for Development Reserve-Bank.com - Banks Worldwide - Banks in Romania www.reserve-bank.com /robank.htm

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