Description
Currently, Romanian banks calculate provisions both according to NBR regulations(for prudential and fiscal purposes) and to IFRS (for reporting to their mother entities). This duplication will continue after Basel II implementation, unless the related regulations change.
Impact Drivers
- Public: To align economic, prudential,and tax treatment and credit risk;to ease the reporting burden and associated compliance costs
- Private: To keep a neutral stance in terms of prudential and credit risk monitoring and management as accounting standards shift to IFRS
Economics
To be estimated.
SPI Committee Involvement
To agree on a feasible conversion of prudential standards to reflect new accounting standards that would meet both business reality and supervisory objectives.
Management
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Veronica Raducanescu
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Project Owner (PO), Director National Bank of Romania
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Oana Balanescu
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Project Manager (PM), Head of Department, National Bank of Romania
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Dana Zachi
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Deputy Project Manager (DPM), Director Banca Comerciala Romana
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Members |
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Antonella Rozolimo
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Alphabank Romania, Arrears Officer
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George Popescu
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Expert, National Bank of Romania
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Cristian Stefan
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National bank of Romania
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Teodora Grigori
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Ministry of Public Finance
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Javier De La Cruz
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Project Technical Anchor, SPI
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Luca Giannini
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Project Peer Reviewer, SPI
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Terms of Reference
Regulatory Impact Assessment
Technical Documents
SPI Committee Documents
Seminar on "International Experience with Provisioning in view of IFRS and Basel II Implementation"
Project Working Group Meetings
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