The cumulative total repayments for the emergency loan amounted to 2,368.4 million lei on October 31, 2019. The National Bank compiled the data for October of Banca de Economii JSC, CB "Unibank" JSC and CB "Banca Socială" JSC on the receipts of these banks, which are undergoing the liquidation process, and their payments made to the Ministry of Finance. According to the NBM data, last year, this amount constituted 1,713.4 million lei, IPN reports. .
The liquidation process of the mentioned banks is supervised by the National Bank, which wants them to render profitable the available assets in limited terms and obtain a maximum equivalent value. The NBM states in a press release that it shows maximum openness while working with the investigation bodies, offering the necessary materials for investigating the circumstances of the bank fraud, in support of the investigation process, the results of which are expected. The NBM supports the effort to recover the embezzled money and to hold the guilty persons accountable. .
The National Bank has engaged in a comprehensive process of reforming the banking sector in order not to admit such fraud in the future. In this regard, multiple measures have been and are still being undertaken, including the continuous monitoring of the quality of the bank's shareholders and the restriction of the access to the system of the non-compliant shareholders, as well as the implementation of the best practices of corporate governance with the personal accountability of the bank managers. It also concerns the change of the regime of large exposures in order not to allow exaggerated placements with other banks as well as the limitation of the norms of exposures to the persons affiliated with the banks.
Moreover, the NBM mentions in this regard the implementation of a modern regulatory framework and a risk-based supervisory process, allowing early detection of banks' deficiencies and risks, the implementation of the credit register that requires daily reporting on credits exceeding 1% of capital even as from the stage of submission of the request etc. New instruments have been introduced, early intervention and bank resolution, which allow the safeguarding of banking institutions at earlier stages of problems’ appearance without resorting to public money. .
Furthermore, the qualitative and quantitative requirements regarding the banks' capital were revised, instruments aimed at increasing the financial stability of the entire banking system were introduced, and the increase of the deposit guarantee ceiling up to 50 thousand lei was promoted.
