Archive » April 2009 » 16 April 2009 The english news from 16 April 2009
Several banks must increase capital to boost solvency
Several banks must increase their capital by tens of millions of euro, to ensure that their level of solvency exceeds 10 percent. Many local lenders are not meeting the conditions imposed by a stress test discussed by authorities with the International Monetary Fund (IMF), as their solvency level is below the required 8 percent threshold, according to banking sources…
Romanian Employers: 40,000 Small Cos Sharply Affected By Lump-Sum Tax
Romanian Employers' Organization disagrees with the government's decision to introduce the lump-sum tax, saying that it will sharply affect 40,000 small companies that will be forced to close down or find ways to declare lower revenues. Employers also say the introduction of the lump-sum tax was decided without consulting them, adding that the companies' productive capacity should be stimulated, not hindered…
BNR - the big loser in IMF agreement deal
The big loser in the loan agreement concluded with a number of international institutions under the IMF's monitoring is the Central Bank. Even if the giant loan is not repaid by the Central Bank, but by the Romanian tax-payer, it remains the big loser as the reference is made based on the situation that has existed so far…
Group of Banca Transilvania shareholders proposes to eliminate the 5% ownership threshold
Several shareholders of the second publicly traded lender Banca Transilvania (TLV) asked the board to eliminate the 5 percent ownership threshold, the credit institution president Horia Ciorcila told NewsIn. Bank shareholders will look into the proposal at the general meeting on April 29. The lender's norms stipulate that no shareholder can control more than 5 percent of the share capital, except for those that get the board's greenlight…