Actual stage of development for basel ii and effects on romanian financial system soundness
This article draws attention to the actual stage of Basel II implementation in Romania and its effects on financial system stability. An overview of the Basel I and II Accords and their possible future outcomes are debated. Some significant features of the law that approves Basel II framework in Romania are taken into discussion.
Capital Adequacy and Risk Management - Premises for Strengthening Financial System Stability
In the last decades, we have witnessed the progressive integration of European financial system, as a result of the cumulative effect of markets' liberalization, innovation and globalisation, and of harmonization of the regulations and implementation of financial reforms by the EU Member States. In this context, increased risk of financial instability necessarily requires the development of standards and codes of best practices in order to improve financial system integrity and stability, and to insure the health of the global banking and financial markets. From this perspective, the Basel II Accord represents a true revolution, aiming the improvement of the consistency of capital regulations internationally and better operational risk management practices. As a member of the EU, Romania is currently through the stages of implementation of Basel II, starting 1st of January 2008. As a central bank, NBR main objectives are: to adapt national legislation; to coordinate the efforts of credit institutions to develop new strategies regarding solvency, capital adequacy and measurement system for each risk category; to impose the disclosure requirements for financial reports and to adapt the IT system.
A Historical Introduction to the Law of Obligations
1 PROLOGUE: THE PREHISTORY OF THE ENGLISH LAW OF OBLIGATIONS 2 STRUCTURAL FOUNDATIONS 3 UNITY AND FRAGMENTATION OF THE MEDIAEVAL LAW OF CONTRACT 4 TRESPASS, TRESPASS ON THE CASE, AND THE MEDIAEVAL LAW OF TORT 5 THE SUBSTANTIVE LAW OF TORTS 6 THE SUBSTANTIVE LAW OF CONTRACT PART 2 THE TRIUMPH OF TRESPASS ON THE CASE 7 TORT, PROPERTY, AND REPUTATION: THE EXPANSION OF THE ACTION ON THE CASE 8 THE RISE OF THE ACTION OF ASSUMPSIT PART 3 THE MODERN LAW OF TORT AND CONTRACT 9 TRESPASS, CASE, AND THE MORAL BASIS OF LIABILITY 10 THE LAW OF TORTS IN THE NINETEENTH CENTURY: THE RISE OF THE TORT OF NEGLIGENCE 11 THE LAW OF TORTS IN THE TWENTIETH CENTURY: EXPANSION AND COLLAPSE OF THE TORT OF NEGLIGENCE 12 FOUNDATIONS OF THE MODERN LAW OF CONTRACT 13 THE RISE OF THE WILL THEORY THE WILL THEORY AND THE CLASSICAL MODEL OF CONTRACT 14 THE DECLINE OF THE WILL THEORY: LEGAL REGULATION AND CONTRACTUAL FAIRNESS PART 4 UNJUST ENRICHMENT 15 UNJUST ENRICHMENT 16 LEGAL CHANGE AND LEGAL CONTINUITY