Wolters Kluwer Financial Services

Regulatory

Regulators in Romania

The supervisory and regulatory framework in Romania consists of:

National Bank of Romania (BNR)

Regulatory Environment — Romania

Statutory	Prudential	Statistical	Transactional
Financial reporting (FINREP)	Capital adequacy reporting (COREP)	MFI statistics	Daily foreign exchange reporting
	Large exposures reporting	Interbank deposits reporting	Balance of Payment reporting
	Liquidity risk reporting

Statutory

Financial reporting
FINREP developed by European Banking Authority (formerly CEBS), has been partially implemented in Romania since 2006. The National Bank of Romania (BNR) has adopted FINREP both on a consolidated and solo basis, for collecting financial information in order to perform the ongoing supervision. Consolidated reporting is in accordance with IFRS norms, while individual financial statements of all Romanian credit institutions are in accordance with European Directives. Additional quarterly reports on guaranteed deposits and loans commitments are also required to submit to the BNR.

Prudential

Capital adequacy reporting
Capital adequacy reporting in Romania is based on COREP framework designed by European Banking Authority (formerly CEBS). Credit institutions are required to submit standard COREP reports on solo and consolidated basis. On individual basis, these reports are required to be submitted quarterly except for the own funds indicator in CA template which is to be submitted monthly while on consolidated basis these reports are to be submitted semi-annually.

Large exposures reporting
Any exposure exceeding the threshold limit of more than 10 percent of net capital are considered as large exposures and are required to be reported to the National Bank of Romania. These reports are submitted on quarterly basis.

Liquidity risk reporting
Liquidity risk reporting is concerned with providing information on flow of liquidity and liquidity ratios. It includes reports such as distribution of assets and liabilities, distribution of maturities categorized by off balance sheet items such as loan commitments, liquidity position, high liquidity risk transactions etc. to be submitted to the BNR on monthly basis.

Statistical

Monetary Financial Institutions (MFI) statistics
MFI statistics are collected as per requirements from ECB. The Central bank collects statistical data from credit institutions for supervisory purposes and submits it to the ECB on periodic basis. The reports include information on balance sheet and interest rate to be submitted on monthly basis.

Interbank deposits reporting
All the credit institutions are required to submit the information on interbank deposits with other credit institutions, to the Central Bank on monthly basis. These reports are collected to monitor and track large deposit amounts and largest depositors.

Transactional

Daily transactions reporting
All the banks authorized by the National Bank of Romania acting as foreign exchange interbank are required to submit daily reports on interbank foreign exchange transactions and all the transactions related to currency options and swaps. In addition, Banks are also required to submit the information on interbank assets and liabilities and transactions related to derivatives with underlying interest rate.

Balance of Payment reporting
BoP reporting is concerned with information on all the transaction between Romania residents and non residents. It includes reports on external payments, foreign cash transactions, non monetary transactions, deposits and receipts from non residents etc. to be submitted on monthly basis. .

Firms are faced with investing time, effort and resource to:

Keep abreast of the latest regulatory demands
Understand regulatory requirements
Re-configure IT solutions to address changing business issues
Meet risk and regulatory demands to stay compliant
Have audit capability to meet internal and external investigation
Have consistent information for both internal and external consumption

So how can we help you?

Wolters Kluwer Financial Services provides regulatory reporting solutions throughout the world for banks, insurance companies, and other financial institutions. By leveraging a global data model (DataFoundation), a standardised integral development environment, fully integrated calculation capabilities and a global runtime engine for reporting, we can provide local reporting efficiently consistently for any jurisdiction.

The main benefits of the our regulatory reporting solution include:

Regulatory Update Service (RUS): We actively monitoring regulatory changes and provides updates within the product subscription
Full audit trail and drilldown to underlying data, variance analysis, etc as part of the runtime engine
Fully integrated solution for risk management & regulatory reporting, as the regulatory framework is converging all over the globe on these topics. This means:
- Single source of data and data management to ensure consistency
- Any risk calculation results relevant for regulatory reporting are automatically taken into account into the reporting
Regulatory reporting includes report level validation rules and electronic delivery where applicable
Local domain expertise while at the same time global consistency

As leaders in the field of risk and regulatory solutions Wolters Kluwer Financial Services understands your business needs. Our heritage in and in-depth knowledge of the financial market enables the development of our solutions to be so flexible that they meet the needs of ALL firms whatever the size or complexity.

Wolters Kluwer Financial Services leads the way in risk and regulatory compliance solutions. Our combined platform for risk management and regulatory reporting covers all instruments required for conventional banking.

Brancusi Business Centre
Constantin Brancusi street
74-76
1st Floor
Cluj-Napoca 400462
Romania

T: +40 372 224 200
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