The paper analyses the swift growth of bank loans granted to the nongovernmental sector with a special attention on the case of Romania, concluding that it creates several perils for the macroeconomic and financial stability.

The new own funds adequacy device, officialy named “ International Convergence of Capital Measurement and Capital Standards”, describes the most important benchmark framework for micro-prudential supervision at the moment. The publication of the final text in June 2004, after five years of...