LAW No. 101 of 26 May 1998 on the Statute of the National Bank of Romania (The NBR Act)

This document presents the law governing the National Bank of Romania (NBR) and can be referred as the NBR Act.

The law is presented into ten chapters.

• Chapter 1 defines the legal status, primary objective, guidelines for co-operation with state authorities and international co-operation for NBR;
• Chapter 2 explains the monetary and foreign exchange policies;
• Chapter 3 lists currency issues;
• Chapter 4 defines operations with banks. It includes guidelines for:
  • Lending to banks;
  • Lending terms and costs;
  • Bank accounts;
  • Payment systems;
  • Clearing, depository and payment services;
  • Mitigation and containment of risk;
• Chapter 5 defines norms for licensing and prudential supervision of banks and protection against systemic risk;
• Chapter 6: describes operations that NBR can take on behalf of the state. These relate to operations with the state treasury, government securities;
• Chapter 7: defines operations in gold and foreign exchange assets;
• Chapter 8: relates to management and administration of NBR;
• Chapter 9: lists the requirements of financial statements for NBR;
• Chapter 10: enlists final provisions related to applicable legislation, regulations issued by NBR, statistical data, special guarantees, operations for third parties, tax relief, professional secrecy, indemnities, equity interest, real estate, communication with the general public and sanctions.