Romanian Competition Council may investigate banking sector

12 October 2017

The head of the Romanian Competition Council, Mr. Bogdan Chiritoiu, has recently announced that if they find signs that the recent increase in the ROBOR (Romanian Interbank Offer Rate) is a result of collusion between banks, they will consider launching an investigation. ROBOR is calculated daily by the National Bank of Romania (NBR), by finding the arithmetic mean of the interbank offer rates quoted by 10 banks selected by the NBR. The 3 and 6 month ROBOR both rose steeply at the end of September and continue to rise steadily. This impacts RON loans with variable interest directly because they fluctuate depending on ROBOR.

The Romanian Competition Council is already carrying out a sector-focused investigation on the banking market. The focus of this investigation is to identify why bank charges and commissions are higher in Romania than in other countries. This investigation is set to be finalised in June 2018.

For more information, please contact Cristina Popescu.
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Agency Database

  • Financial Conduct Authority (FCA)
    Term:
    Financial Conduct Authority (FCA)
    Other Names:
    Definition:
    Responsible for consumer protection, market conduct, EU representation & prudential regulation of smaller firms.
    Area:
    Type:
    Regulator
    Country:
    UK
    URL:
    http://www.fsa.gov.uk/
  • Austrian National Bank
    Term:
    Austrian National Bank
    Other Names:
    Oesterreichische Nationalbank (ONB/OeNB)
    Definition:
    Contributes on a stability-oriented monetary policy; safeguards financial sability; provides general public and the busines community with high quality cash. The competent authority for the authorisation and supervision of payment institutions (article 20).
    Area:
    Banking
    Type:
    Regulator
    Country:
    Austria
    URL:
    http://www.oenb.at/en/
  • Bank of Italy
    Term:
    Bank of Italy
    Other Names:
    Banca d’Italia
    Definition:
    Central bank: banking and financial supervision. The competent authority for the authorisation and supervision of payment institutions (article 20).
    Area:
    Banking
    Type:
    Regulator
    Country:
    Italy
    URL:
    http://www.bancaditalia.it/;internal&action=_setlanguage.action?LANGUAGE=en
  • Bank of Slovenia
    Term:
    Bank of Slovenia
    Other Names:
    Banka Slovenije (BSI)
    Definition:
    This is the central bank of the Republic of Slovenia. It implements the common monetary policy; co-manages the official foreign reserves of the monetary system; promotes smooth operation of payment systems. It is also the competent authority for the authorisation and supervision of payment institutions (banks, credit institutions) and it maintains accounts for Republic of Slovenia, government bodies and public entities.
    Area:
    Banking
    Type:
    Regulator
    Country:
    Slovenia
    URL:
    http://www.bsi.si/en/
  • Bank of Spain
    Term:
    Bank of Spain
    Other Names:
    Banco de Espana
    Definition:
    Central bank. The competent authority for the supervision of payment institutions (note the competent authority for the authorization of payment institutions is the Spanish Ministry of Finance).
    Area:
    Banking
    Type:
    Regulator
    Country:
    Spain
    URL:
    http://www.bde.es/bde/en/
  • Commission of the Securities Market
    Term:
    Commission of the Securities Market
    Other Names:
    Comissão do Mercado de Valores Mobiliários (CMVM)
    Definition:
    Established in April 1991 with the task of supervising and regulating securities and other financial instruments markets. The competent authority for MiFID.
    Area:
    Securities
    Type:
    Regulator
    Country:
    Portugal
    URL:
    http://www.cmvm.pt/en/Pages/default.aspx
  • Committee of European Banking Supervisors (CEBS) [Defunct]
    Term:
    Committee of European Banking Supervisors (CEBS) [Defunct]
    Other Names:
    Definition:
    Defunct. Replaced by EBA in January 2011
    Area:
    Banking
    Type:
    Regulator
    Country:
    EU
    URL:
    http://www.eba.europa.eu/
  • Czech National Bank
    Term:
    Czech National Bank
    Other Names:
    Česká národní banka (CNB)
    Definition:
    Area:
    Financial Services
    Type:
    Regulator
    Country:
    Czech Republic
    URL:
    http://www.cnb.cz/en/

Future Dates

* Estimated date

  • 2 November 2017

    Deadline for responses to the EBA's discussion paper on FinTech.

  • 17 November 2017

    Deadline for responses to European Commission's consultation paper on 'post-trade in a Capital Markets Union: dismantling barriers and strategy for the future'. 

  • In the course of 2017

    Next phase of the post-implementation RDR review will be published by the FCA in this year; to be followed by a subsequent third phase of the review which will consider the longer-term implications.