Regulatory Alerts2023-11-14
Directive on Minimum Requirements
The National Bank of Romania (BNR) issued this directive to establish minimum requirements for financial institutions' recovery planning and governance frameworks. It mandates the development of recovery plans that address both fast- and slow-moving stress scenarios, alongside structured internal governance arrangements. The directive further outlines the assessment criteria for validating recovery plans and establishes final provisions to ensure consistent regulatory compliance across the sector.
BNR RESTRICTED Page 1 of 10 CHAPTER I: GENERAL PROVISIONS CHAPTER II: GOVERNANCE
BNR RESTRICTED Page 2 of 10 CHAPTER III: RECOVERY PLANNING PROCESS
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BNR RESTRICTED Page 7 of 10 The scenarios shall cover both fast-moving and slow-moving events.
BNR RESTRICTED Page 8 of 10 CHAPTER IV: CONTENT OF RECOVERY PLAN AND ITS ASSESSMENTS
BNR RESTRICTED Page 9 of 10 by assessing the extent to which a recovery plan satisfies the requirements of this Directive;
BNR RESTRICTED Page 10 of 10 CHAPTER V: MISCELLANEOUS AND FINAL PROVISIONS