Senate's Zamfir invites BNR Governor Isarescu to Economic Committee

Chair of the Economic Committee of the Senate Daniel Zamfir announced he invited Governor of the National Bank of Romania (BNR) Mugur Isarescu, on Tuesday, for a hearing in relation to the central bank's oversight of non-bank financial institutions (NBFIs) activities. "There are many things that, in the opinion of the Economic Committee members must be clarified by Mr Governor. The first and the most important thing regards the BNR oversight of non-bank financial institutions' activities. For years, the BNR said it doesn't have the leverages over these non-bank financial companies. Three weeks ago I noticed that the National Bank was able to intervene, it stopped these unfair practices of non-bank credit institutions, and the question that I would ask Mr Isarescu, and I will definitely ask him, is why it has not intervened throughout this period, leaving these NBFIs to practice for years some absolutely absurd interests, reaching up to 7-8,000 percent and intervened now. It's a simple, logical, common sense question," Zamfir told the Senate on Thursday.

Agerpres.