Descarca catalogul - ALB

in relationship to which the buyer of protection has no control, a clause which may exempt the
guarantor of the obligation to pay in a timely manner, but no later than 90 calendar days from the
date when requested, if the main obligee fails to pay, in due time, the overdue amount(s);
(ii) real property - refers to tangible or intangible assets received as collaterals in exchange of operations
carried out (e.g. mortgages on real/personal property, pledges etc.).
(iii) intrinsic real property – refers to the guarantees included in the characteristics of the operation itself
(e.g. values received under a repurchase agreement, securities received under a repurchase agreement
with specific delivery, goods covered by financial leasing contracts, etc.); the lenders record the intrinsic
real guarantees in the off-balance account 9981 – Other values received;
o) specific credit risk provisions - the provisions created by lenders in order to cover potential creditrelated
losses, systematised in terms of structuring in principal amount and interest, as well as of the
accounts in which they are recorded. These are presented in Section III “Provisions” of the Annex No. 1.
p) fair value - the amount for which an asset can be exchanged freely and knowingly between two
parties, in an arm’s length transaction.
Article 3 - Institutions issuing electronic money and payment institutions that extend credits related to
payment services and that do not conduct their accounting activity in accordance with the accounting
regulations issued by the National Bank of Romania shall consider the appropriate accounts listed in
the chart of accounts provided by accounting regulations applicable to such entities, in which they have
recorded amounts whose economic nature is similar to those of the accounts referred to in Annex No. 1.
Article 4 - (1) The internal rules of lenders, to which this regulation refers, shall represent one single
legislative instrument.
(2) The internal rules referred to in paragraph (1) are approved by the statutory bodies of the non-bank
financial institutions, of the payment institutions whose main object of business consists of the provision
of payment services of the institutions issuing electronic money, whose main object of business consists
of the emission of electronic money. In the case of payment institutions and institutions issuing electronic
money whose main object of business does not consist of payment services and issuance of electronic
money, the internal rules referred to in paragraph (1) shall be acknowledged by the people who are
responsible for managing and heading the payment services activity, as per Article 15, paragraph (2)
of Government Emergency Ordinance No. 113/2009, approved as amended by Law No. 197/2010, as
subsequently amended and completed, and by the persons who are in charge of managing and heading the
electronic money emission and payment services, as per Article 11, paragraph (2) taken in conjunction
with Article 14 of Law No. 127/2011.
(3) The internal rules of the non-bank financial institutions recorded in the Special Registry, of the
payment institutions and of the institutions issuing electronic money whose lending activity has reached
a significant level, within the meaning of Regulation No. 21/2009 of the NBR on payment institutions,
as subsequently amended and completed, and of Regulation No. 8/2011 of the NBR on institutions
issuing electronic money, respectively, shall be submitted to the Supervision Directorate of the NBR.
(4) The internal rules referred to in paragraph (3) and any amendments thereto shall be submitted within
5 days since the time when approved.
CHAPTER 2
Guarantee-based reduction of exposure
Article 5 For the enforcement of the provisions of this chapter, lenders must ensure the fulfilment of
110
60184_file_interior_lucian_v9.indd 110
11/5/2012 9:22:06 AM