New Elements in Corporate Governance of the Credit Institutions from the Perspective of National Bank of Romania Regulation no. 5/2013
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| Pages: | 64 : 73 |
| Abstract: |
The global economic crisis has stretched its harmful effects including banking activity, this being one of the severely affected economic domains where the greatest efforts of resuscitation were done, sometimes with serious consequences over public money. In this context, restoring the credit institutions’ activity on actual basis, through a more efficient organizational system and re-editing the attributions of the management organs, so that to be able to guarantee for an effective and fast risk management framework, represented a globally assumed goal. Romanian law cannot remain outside this framework especially considering the obligation to join the model imposed by the European legislator by taking over the domestic law of the European directive CRD IV. This paper proposes a comparative study between the current and the previous legislation in order to highlight the main elements of novelty brought by Basel III, CRD IV and GL Guide 44/2011 on the internal governance of credit institutions elaborated by the European Banking Authority. |
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