REGULATION OF THE ROMANIAN BANKING SYSTEM. EFFECTS ON THE MARKET ECONOMY

The financial crisis of 2007 has caused a number of global changes. As was normal, financial institutions, and within those the credit institutions are getting special supervision and regulation. Especially at the level of the European Union, the regulation and supervision of the banking sector reached some limits not previously seen. The present work deals with the causes and the effects regarding the regulation of the Romanian banking system. As well it has been enumerated the main legislative acts that have a significant impact on the Romanian banking activity. We came to the conclusion that we are witnessing an overregulation, whose impact is insufficiently analyzed and that has multiple effects on the economy in a negative way. We are witnessing as well an attack on the market economy, which is still in an emerging phase in Romania. We also find that there is a tendency to offer social protection to certain categories of bank customers, without the banks having this role.