Although there is no express requirement in the regulations of the National Bank of Romania, the design, the implementation and the use of rating systems in the management of risks related to exposures of non-banking financial institutions (NFIs) on the basis of good banking practice, is a...

The severity of the global financial crisis has highlighted major structural limits not only at the level of credit institutions' risk management strategies, but also in the financial safety net. There were very few rules at the onset of the international financial crisis, to determine the...