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Senate adopts bill on credit institution and capital adequacy

February 18, 2014

Agerpres, Bucharest, Romania

Feb. 18--BUCHAREST -- The Senate on Tuesday adopted a bill on credit institutions and capital adequacy.

The bill concerns the approval of Government Emergency Ordinance (OEG) No 113/2013 regarding certain budget measure and the modification and supplementation of OEG No 99/2006 regarding the credit institutions and the capital adequacy.

Moreover, they also adopted the report of the commission on budget, finance, banking and capital market.

'The bill regulates the adoption of certain budget measures as well as the modification and supplementation of OUG No 99/2006 on credit institutions and capital adequacy. The main budget measures included are the removal from the state reserve, under a loan, of certain quantities of fuel for the heat and electricity producers, modification and supplementation of OUG No 1/2003 on the modification and supplementation of Law 263/2010 regarding the single pension scheme, so as to bring it in line with Ruling No 437/2013 of the Constitutional Court of Romania regarding the calculation of correction indexes applicable in the case of the annual average scores for the pension rights,' showed the report of the budget-finance commission.

The draft law also stipulates the allocation of money from the Government's reserve fund to the main credit operators of the state budget and 'the lawful compensation of the payment obligations of the Romanian State established through court/arbitration rulings, with the obligations of creditors or assignees to the state budget, the social security budget and the special funds budget.'

The initiator of the draft law is the Romanian Government, the Senate being the first notified chamber.


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Source: Agerpres (Romania)

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