REGULATION
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European Commission Adopts Implementing Regulation To Pave Way For High Capacity 5G Network Infrastructure
The Commission on Tuesday adopted the Implementing Regulation on small-area wireless access points, or small antennas, which are crucial for the timely deployment of 5G networks that are delivering high-capacity and increased coverage as well as advanced conne...
Romanian Government Plans to Tax Tips in Hospitality Industry
Romania's finance ministry and employers in the hospitality industry have agreed to draft a bill to levy a 10% income tax on tips in the hospitality industry.
Romania’s Central Bank Sets Stricter Foreign-Currency Lending Rules
Romanian banks will provide corporate loans in foreign currency only after carrying out default risk simulations to take into account a severe depreciation of the leu against the main curren...
Stricter Rules For Monetary Funds
Monetary funds, the biggest mutual funds in Romania with total assets of more than 3.8 billion lei (almost EUR900 million), have less than six months left to decide whether or not they shoul...
Isarescu Gives Banks A Breath Of Fresh Air, Eases Reserve Requirements
Romanian central bank BNR has eased the minimum reserve requirements for banks, a measure that could release liquidity into the market, especially foreign-currency.
Austrian Central Bank Insists On Restricting Lending Terms For New Loans
The governor of the central bank of Austria, Ewald Nowotny, says publicly he does not intend to drastically restrict the position of Austrian banks in the region, but unofficially continues...
Insurers To Face Penalties If They Breach Car Insurance Policy Terms
Insurers failing to observe the terms stated in mandatory car insurance policies (RCA) will have to pay damages to policyholders, Romanian insurance regulator CSA said in a press release Wed...
Central Bank Does Not See Net Capital Outflows, But Considers Risk Of Lending Decline
The National Bank monitors banks’ liquidity and solvency and has so far noticed no net capital outflows, but does not rule out such moves occurring in the future.
Isarescu: Financial Crises Are Impossible To Avoid
The financial system invests in the future, takes on risks, so it is impossible for it not to be in offside position from time to time. Financial crises cannot be avoided, they can only be m...