Banking Partner Monia Dobrescu writes about concepts of “Credit Institution” and “Bank”— Credit institution and the general procedure for the authorization of banks in Romania, in Thomson Reuters’ April 2020 edition of International Banking Law and Regulation, Romanian law chapter.
Starting with 15th of May 2020, the state of emergency was replaced with the state of alert in Romania. Therefore, while the legislative context in continuous change is still imposing protective measures, the Romanian Government is looking to gradually relax the lockdown measures.
In the Official Gazette no. 319 dated 16 April 2020, the Emergency Government Ordinance no. 48/2020 on certain fiscal and financial measures was published, which provides new clarifications and tax facilities.
The main aspects tackled by Guidelines 04/2020 are the use of location data and of contact tracing applications. Once again, EDPB underlines that personal data should be processed in accordance with the legal processing principles no matter the purposes aimed. More precisely, the location data collected from electronic communication providers may only be transmitted to authorities or other third parties to the extent that: (i) they have been anonymised by the provider or, (ii) with the prior consent of the users(for data indicating the geographic position of the terminal equipment of user, which are not traffic data);
On 14 April, the European Data Protection Board (EDPB) published a letter providing advice on the draft Guidance on apps supporting the fight against COVID-19 pandemic, released by the European Commission.
Covid-19: Economic measures covering the banking and financial sector. Facilities in relation to loans granted by credit institutions and non-banking financial institutions to certain categories of borrowers
Through the Military Ordinance no. 8/2020 published in the Official Gazette no. 301 on 10th of April, 2020, there were instituted a new series of measures to prevent the spread of COVID-19, which directly envisage certain categories of workers and/or professionals, as presented below.