Why is Government rushing to modify bank bankruptcy law?

Bank bankruptcy procedures will be modified through an
Emergency Ordinance, after the Government has long delayed adopting
the stipulations requested by the International Monetary Fund. The
decision has nothing to do with the soundness of domestic banks,
which are not facing trouble, says Nicolaie Cinteza, head of NBR’s
Supervisory Department. “Solvency is good at system level, as well
as at individual level, so that I do not see any problem.
Everything is linked to the IMF agreement,” Cinteza said. The
solvency indicator, measuring banks’ equity capital adequacy
against assumed risks, stood at 14% last December, according to
NBR’s latest data, compared with a minimum required level of 10%.
Cinteza says the indicator will climb to above 15%, after banks
submit audited reports for 2009. The Government yesterday discussed
the EO draft for the modification of regulations on lending
institution bankruptcy, with the main introduced stipulations being
the need for NBR’s approval to start the procedures opening, as
well as shorter decision deadlines.