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Schoenherr Attorneys at Law
Factoring volumes in Romania have seen a marked increase over the last year, up to EUR 3.68bln in the first half of 2022, according to public sources.
MPR Partners
In follow-up to our summary regarding the preliminary evaluation for the banks' authorisation, as detailed in Regulation no. 12/2020 on the authorization of credit institutions and amendments...
Schoenherr Attorneys at Law
While following the adoption of the Temporary Framework various EU countries have rather quickly implemented state support schemes that also cover large corporations
Dentons
On 27 November 2019, the Romanian Parliament approved a Law on Regulation of Alternative Investment Funds (the "New AIF Law"),...
Eurofast
The Fiscal Authority (FISC) of Romania receives information on the persons who have opened accounts at the banks and financial institutions in Romania and are doing transactions using them.
Kinstellar
November 2018 – Following the adoption of EU Directive (EU) 2015/2366 of the European Parliament and Council of 25 November 2015 on payment services in the internal market ("PSD2"),
Volciuc-Ionescu SCA
Trade finance is generally not very developed in Romania, at least by comparison with other EU Member States and developed and emerging markets.
Volciuc-Ionescu SCA
On 11 June 2015, the Romanian Ministry of Public Finance published the draft law transposing into Romanian legislation the EU Directive 2014/59/EU of the European Parliament and of the Council...
Tuca Zbarcea & Asociatii
One particular issue has been legislators' intention to apply certain of the new legal provisions also to existing contracts, concluded prior to the entry into force of the new laws.
Tuca Zbarcea & Asociatii
The favourable credit market coupled with attractive interest rates led to a comeback for leveraged loans following the financial crisis.
PeliFilip
In January 2017, the NBR issued a press release offering its interpretation in relation to this legislative amendment.
PeliFilip
Starting with 2014, after the entry into force of new prudential rules imposed by the Basel III international standards, as well as by Directive 2013/36/EU and Regulation no. 575/2013, ...
Wolf Theiss
The "debt discharge" (darea in plata) allows for the discharge in full of any loans contracted by a natural person and secured by a mortgage arrangement, including any accessories in connection therewith.
Schoenherr Attorneys at Law
Over the past years, banks operating in the Romanian market have been approached with an increasing number of financing projects that aim to benefit from financial support from either state aid schemes or EU financing programmes.
Schoenherr Attorneys at Law
If timely assimilated by the business community and followed by detailed provisions, in particular on its fiscal and insolvency treatment, the newly regulated fiducia creates an opportunity of new business for certain actors and may lead to a more flexible structuring of secured finance-banking transactions.
Rominvent S.A.
European Union
Schoenherr Attorneys at Law
Romania is currently taking steps to transpose Directive EU 2021/2167 on credit servicers and credit purchasers (the "NPL Directive") into national law.
Tuca Zbarcea & Asociatii
None of this sounds very different from the headlines of previous years, reflecting a process started by the European regulatory bodies in 2012, in response to the financial crisis.
Tuca Zbarcea & Asociatii
2017 has seen some antagonistic forces, whose resultant seems uncertain. On the one hand, people are talking about the steps that are to be taken with a view to consolidating the single market and achieving banking union.
Wolf Theiss
Whistleblowing is the disclosure of information about a perceived wrongdoing in an organization to individuals or entities believed to be able to effect action.
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