Macroprudential regulation

The climate change agenda has a high stake for the Romanian economy and financial system, both in terms of opportunities and costs, should the green transition be delayed, the governor of the National Bank of Romania (BNR), Mugur Isarescu, said on Tuesday at the press conference for the presentation of the Report of the National Committee for Macroprudential Supervision (CNSM).

While the policy of building walls to keep people from entering a country has become more prevalent, what is rarely discussed in the mainstream financial media is the prospect of another type of wall: a financial wall, prohibiting savers and investors from transferring, repatriating, or even using their capital.

• - Euro area systemic stress remained low in past six months amid improving, but still subdued, economic growth
• - Financial markets show continued asset price rises and bouts of volatility, but without generalised overvaluations
• - Challenging operating environment for euro area banks and insurers, while rapid growth of shadow banking sector continues