Daily News 04 / 10 / 2019

Total Page:16

File Type:pdf, Size:1020Kb

Daily News 04 / 10 / 2019 European Commission - Daily News Daily News 04 / 10 / 2019 Brussels, 4 October 2019 Cohesion Policy: EU invests €880 million to improve Poland's railway system The Commission adopted two major Cohesion Policy projects, improving the Polish rail network and increasing its capacity, speed and safety. Both projects should be operational as of January 2023. Johannes Hahn, Commissioner for Neighbourhood Policy, Enlargement Negotiations and Regional Policy, said: "Seamless railway connections for passengers and freight will boost territorial cohesion in Poland while ensuring better quality of air in the country in the long run. This is another Cohesion Policy success story.” Almost €838 million of EU funding will help to modernise a 214.5-km section of the railway corridor between the towns of Chorzów Batory and Zduńska Wola Karsznice, between the regions of Śląskie and Łódzkie, on the Trans-European Transport Network. An additional €43 million will help to buy more than 930 platform wagons for transporting containers, with an aim to shift goods transport from road to rail in order to cut carbon emissions and increase road safety by reducing the number of trucks on the roads. Poland is the biggest beneficiary of Cohesion Policy funds. Since the country joined the EU in 2004, Cohesion Policy has financed 12,200 km of new or upgraded road, access to broadband for 9.1 million people and the creation of 151,000 jobs. Further details are available in the press release. (For more information: Christian Spahr – Tel.: +32 2 295 00 55, Sophie Dupin de Saint-Cyr - Tel.: +32 229 56169) Romania: 5,000 businesses to receive financial support thanks to Cohesion Policy programme The Commission welcomes Romania's decision to allocate an additional €150 million from their Cohesion Policy budget to the SME Initiative, which uses EU funds to leverage private financing for small and medium businesses. Withthis increase, the SME Initiative is expected to generate up to €1.38 billion of financial support for Romanian businesses. Under the initiative, the European Investment Bank (EIB) Group signed new deals with CEC Bank, Banca Comerciala Romana, BRD - Groupe Société Générale, Libra Internet Bank, ProCredit Bank, Raiffeisen Bank and Unicredit Bank. Together with existing transactions with Banca Transilvania and ING Bank Romania, these deals are expected to benefit around 5,000 SMEs and start-ups in need of finance. Commissioner for Neighbourhood Policy, Enlargement Negotiations and Regional Policy, Johannes Hahnsaid: “The SME Initiative is a perfect example of how Cohesion Policy funding used in an innovative way can multiply its effects on the ground. Romania was among the first Member States to join the SME Initiative and this has paid off. Thanks to the additional resources from the European Regional Development Fund, more and more SMEs and start-ups will be able to seize this opportunity and continue creating jobs, growth and prosperity for the country and its people.” A press release is available on the EIB Group's website. (For more information: Christian Spahr – Tel.: +32 2 295 00 55, Sophie Dupin de Saint-Cyr - Tel.: +32 229 56169) Emploi: La Commission propose une aide de 1,6 million d'euros au titre du Fonds européen d'ajustement à la mondialisation pour 400 travailleurs licenciés de Carrefour Belgique La Commission européenne a proposé d'accorder à la Belgique une enveloppe de 1,6 million d'euros au titre du Fonds européen d'ajustement à la mondialisation (FEM) pour aider 400 travailleurs licenciés de Carrefour Belgique à trouver un nouvel emploi. Marianne Thyssen, commissaire européenne pour l'emploi, les affaires sociales, les compétences et la mobilité des travailleurs, a déclaré à ce propos: « La solidarité de l'UE est essentielle pour soutenir les travailleurs vulnérables. Le secteur du commerce de détail peine à s'adapter aux changements du commerce mondial. Je suis convaincue que le soutien proposé au titre du Fonds européen d'ajustement à la mondialisation aiderait les travailleurs touchés dans leur transition pour acquérir de nouvelles compétences, trouver un nouvel emploi ou créer leur propre entreprise. » La Belgique a demandé le soutien du FEM à la suite du licenciement de 1 019 personnes de la société Carrefour Belgique, causé par des modifications majeures de la structure du commerce mondial découlant de la mondialisation, et notamment du renforcement de la concurrence dans le domaine des achats en ligne effectués auprès de vendeurs établis hors UE. En raison de la situation particulièrement difficile en matière d'emploi en Wallonie, l'aide financière sera destinée à 400 travailleurs licenciés dans cette région. Outre les travailleurs, jusqu'à 330 jeunes de moins de 25 ans ne travaillant pas et ne suivant pas d'études ni de formation (NEET), se verront également offrir un soutien. Tant les travailleurs que les NEET bénéficieront de services actifs d'orientation professionnelle, d'une aide à la recherche d'emploi, de formation professionnelle, d'une promotion de l'esprit d'entreprise et de contributions pour créer leur propre entreprise. Plus d'informations sont disponibles dans ce communiqué de presse en ligne. (Pour plus d'informations: Christian Wigand– Tel.: +32 229 62253; Sara Soumillion – Tel.: +32 229 67094) Juncker Plan supports food waste management in Romania and cultural entrepreneurs in Sweden The Juncker Plan continues to support businesses across a diverse range of sectors and locations. The European Investment Bank has signed a €7.5 million loan with food waste management company Winnow Solutions. The company has used Artificial Intelligence technology to develop software and hardware solutions to help staff in professional kitchens track the amounts and types of food they waste. Winnow will use the financing to boost its research and development activities, and support 69 jobs. In Sweden, the European Investment Fund has agreed to guarantee loans from Marginalen Bank of up to SEK 1 million (around €92,300) each to entrepreneurs from the cultural and creative sectors, an area that is often excluded from traditional bank financing. Both of these deals are backed by the Juncker Plan's European Fund for Strategic Investments. Commenting on the Romanian deal, European Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella said: “Winnow's objective to help professional kitchens reduce their amounts of food waste is both good for our natural resources, and it makes economic sense. By helping businesses monitor and analyse what they are throwing away each day, using innovative technology, Winnow is empowering them to change their actions. I am proud that this project is being supported by the EU bank and the Juncker Plan.” Press releases are available here. As of September 2019, the Juncker Plan has mobilised €433.2 billion of additional investment, including €3 billion in Romania and €13.4 billion in Sweden. The Plan is currently supporting 972,000 small and medium businesses across Europe. (For more information: Annika Breidthardt – Tel.: +32 229 56153; Siobhan Millbright – Tel.: +32 229 57361) L'Union européenne renforce son partenariat avec le Sénégal avec 27,5 millions d'euros À l'occasion d'une visite au Sénégal, le commissaire à la coopération internationale et au développement Neven Mimicaa signé des programmes de coopération pour un montant total de 27,5 millions d'euros. Ces programmes renforceront l'accès à l'électricité et aux énergies renouvelables, le soutien à la société civile, et à la mise en œuvre technique de la coopération au développement avec le Sénégal. Le commissaire Mimica a déclaré: "Ces programmes d'un montant total de 27,5 millions d'euros soutiendront le développement inclusif et durable au Sénégal, dans l'esprit de notre Alliance Afrique-Europe pour des investissements et des emplois durables. L'Union européenne demeure aux côtés du Sénégal pour renforcer le dialogue politique entre les autorités et la société civile, et améliorer les conditions de vie de la population sénégalaise." Lors de sa visite, le commissaire Mimica a également rencontré le Président Macky Sall, afin d'échanger à propos des priorités communes, notamment la création d'emplois et la lutte contre le changement climatique. Le communiqué de presse complet est disponible en ligne. (Pour plus d'informations: Carlos Martin Ruiz De Gordejuela – Tél.: +32 229 65322; Christina Wunder – Tél.: +32 229 92256) State aid: Commission approves €47 million public support for Greek port of Igoumenitsa The European Commission has approved, under EU State aid rules, Greece's plans to grant €47.3 million of public support for the construction of a new quay in the port of Igoumenitsa, on the north- west coast of Greece. The aim of the project is to decrease congestion, harmful emissions and the risk of accidents, by relocating the port's international activities to a new quay situated out of the city of Igoumenitsa. The Commission assessed the measure under EU State aid rules. It found that the public support was proportionate and necessary for the implementation of the investment. Furthermore, the Commission considered that Igoumenitsa, while being a relatively small port with limited transport volumes at EU level, is part of the core trans-European transport network (TEN-T). The Commission concluded that the public support is in line with EU State aid rules, as it will further the construction of EU priority transport infrastructure and reduce safety risks for passengers without unduly distorting competition in the Single Market. More information is available on the Commission's competition website, in the public case register under the case number SA.48220. (For more information: Lucía Caudet – Tel. +32 229 56182; Giulia Astuti - Tel.: +32 229 55344) Education: new report shows more efforts are needed to increase teachers' pay Today, the European Commission's Eurydice network published its annual report on teachers' salaries to mark World Teachers' Day (5 October).
Recommended publications
  • Kpmg for Gsm.Pdf
    WHO we are The wider community Our values We do what is right INTEGRITY REVENUES BY FUNCTION A business should be about more than making profits. It should also be a positive 39.1 mil force within the community, contributing to the well-being of society as a whole. For We never stop learning and improving EXCELLENCE KPMG, supporting our community is at the heart of our values and is fundamental to the 28% 30% 48% way we do business. We encourage our employees to participate in corporate social Advisory Tax Audit responsibility activities. KPMG firms have We think and act boldly COURAGE We respect each other partnered with numerous international development agencies and non-governmental organizations to pioneer a model of professional cooperation. TOGETHER We draw strength from our differences 850 Win-green situations We do what matters For Better Employees KPMG is committed to integrating environmental best practice into all of our business activities. We take our Offices in environmental responsibility seriously, and, 19 through a program of continous Romania improvement throughout all our operations, Partners we are working hard to reduce our impact on the environment. KPMG in Romania has implemented an Environmental Policy since 2008 and we obtained the ISO 14001 certification in 2009, demonstrating that KPMG in Romania meets the requirements for an Environmental Management System (EMS).And we didn`t stop here. To find out more about our actions, including volunteering, tree planting, donations, education and much more, please visit our
    [Show full text]
  • Loan Financing for Micro, Small and Medium Sized Enterprises
    Loan Financing for Micro, Small and Medium sized Enterprises Loan financing for MSMEs is available from the following banks with which the EBRD has signed a loan or standby facility. ALBANIA Credins Bank – Albania Credins Bank is the 3rd largest bank by loan portfolio and 4th largest in terms of assets and deposits in Albania. Established in 2003 as the first local private bank in the country, the bank has grown from a tier 3 bank to a systematic bank with a greater market share than some foreign banks in the country; it has continued to be profitable despite the impact of the crisis; and has developed a strong brand based on being client-oriented and developing innovative products. EBRD provided a senior loan of EUR 8 million for on-lending to SMEs. MSMEs with up to 250 employees can apply for the loans. The maximum aggregate amount of the loan is EUR 400,000 for up to 5 years. Both working capital financing and investment loans are available along with overdrafts and credit lines as well as a variety of other banking products and services tailored for MSMEs. Not less than 45% of the Loan shall be used to finance local activities outside of the capital city of Tirana. The loan is available both in Albanian Lek and EUR. For further details please contact Credins Bank directly. Head office contact details Customer contact Branch network contacts Banka Credins Egla Ballta Rr. "Ismail Qemali" 4, Tirane, MSME lending department Shqiperi Tel: +355 4 2234 096, 2233 912 Fax: +355 4 2222 916 Email: [email protected] Landeslease Landeslease is one of the leading leasing companies for MSME across many regions of Albania.
    [Show full text]
  • Denumire Banca Cod Swift Libra Internet Bank S.A. Brelrobu Piraeus Bank Pirbrobu Banca Comerciala Carpatica Carpro22 Banca Comerciala Feroviara S.A
    DENUMIRE BANCA COD SWIFT LIBRA INTERNET BANK S.A. BRELROBU PIRAEUS BANK PIRBROBU BANCA COMERCIALA CARPATICA CARPRO22 BANCA COMERCIALA FEROVIARA S.A. BFERROBU PORSCHE BANK PORLROBU CEC BANK - CASA DE ECONOMII SI CONSEMNATIUNI CECEROBU MARFIN BANK (ROMANIA) S.A. EGNAROBX BANCA ROMANEASCA S.A. BRMAROBU RAIFFEISENBANK HILDBURGHAUSEN GENODEF1HGH SPARKASSE EICHSTATT BYLADEM1EIS SPARKASSE WILHELMSHAVEN BRLADE21WHV LUZERNER KANTONALBANK LUKBCH2261B RAIFFEISENBANK AUMA ZEULENRODA GENODEF1AZR CAIXA RURAL L ALCORA BCOEESMM113 BANCO CEISS CSPAES2LXXX LORCHER BANK EG GENODES1LOR VOLKSBANK MARSBERG EG GENODEM1MAS VOLKSBANK WILDESHAUSER GEEST E GENODEF1HPS RAIFFEISENBANK FRAUENSTEIN EG GENODE51WNT CAJA RURAL DE ZAMORA BCOEESMM085 FOERDE SPARKASSE KIEL NOLADE21KIE SWISSCANTO FUNDS CENTRE LIMITED SWISGB2LXXX GOYER UND GOEPPEL GOGODEH1 KREISSPARKASSE GOEPPINGEN GOPSDE6G SELF TRADE BANK SELFESMMXXX RAIFFEISENBANK WESSELING EG GENODED1WSL DZ PRIVATBANK SCHWEIZ AG GENOCHZZ EUROPE ARAB BANK PLC LONDON ARABGB2L RAIFFEISENBANK EG GENODED1ALD STADTSPARKASSE SCHMALLENBERG WELADED1SMB VOLKSBANK WESTERKAPPELN-WERSEN GENODEM1WKP PAX-BANK EG GENODED1PAX SPAR-UND DARLEHNSKASSE HOENGEN EG GENODED1AHO NordLB Kommunikations-BIC Schleswig-Holstein NOLADEHAFI4 KREISSPARKASSE AUGSBURG BYLADEM1AUG BANQUE THALER THALCHGG HYPO INVESTMENTBANK HYINAT22 EESTI PANK BANK OF ESTONIA EPBEEE2X UBS SWITZERLAND AG UBSWCHZH88B UBS SWITZERLAND AG UBSWCHZH20A KREISSPAKRASSE LUDWIGSBURG SOLADES1LBG DEUTSCHE APOTHEKER- UND AERZTEBANK DAAEDED1003 UBS SWITZERLAND AG UBSWCHZH72D BNP PARIBAS
    [Show full text]
  • CEE Banking M&A Study 2019
    CEE banking consolidation perking up Dealmakers with agenda on both sides November 2019 Contents Foreword 1 Number of M&A deals in the CEE Region 2 CEE macroeconomic overview 4 Banking trends in CEE 5 Banking M&A dynamics in CEE 12 Digital transformation, FinTech 18 Poland 22 Czech Republic 26 Slovakia 30 Hungary 34 Romania 38 Slovenia 42 Croatia 46 Bulgaria 50 Serbia 54 Ukraine 58 Bosnia and Herzegovina 64 Albania 68 Baltic region (Estonia, Latvia, Lithuania) 72 List of abbreviations 83 Disclaimer 83 Contacts 84 For more details behind the study, use the QR scenner on the last page 2 Foreword remained solid with an average over 20% therefore with no efficient economies of in the 15 countries, NPL ratios and volumes scale. The expected economic softening gravitated further to the south, while might also put more pressure on less profitability rose to historically high levels efficient banks. Consolidation seems to in several countries with an average ROE be perking up with an increasing number around 11% and no loss making banking of deals. We have seen many recent Leveraging on the success of our NPL sectors. These positive dynamics were deals from the inside, therefore we see study series which provides an overview backed by stable economic expansion with that agenda is there on both sides of the on non-performing loan markets in 15 an average real GDP growth of 3.9% in deals, and acquirers have solid financial countries across CEE and the Baltics, 2018, improving labour market conditions firepower to perform acquisitions. as a leading advisor not only in loan and intense lending activity in the region.
    [Show full text]
  • Opinions and Perceptions of Bank Managers on the Quality of Provision of Internet Banking Services
    (online) = ISSN 2285 – 3642 ISSN-L = 2285 – 3642 Journal of Economic Development, Environment and People Volume 8, Issue 3, 2019 URL: http://jedep.spiruharet.ro e-mail: [email protected] Opinions and Perceptions of Bank Managers on the Quality of Provision of Internet Banking Services Luiza Emanuela Bucur 1, Natalia Manea2, Dumitru Goldbach 3 1 Bucharest University of Economic Studies 2University POLITEHNICA of Bucharest 3Valahia University of Târgoviște Abstract. Following the accession of Romania to the European Union, the services sector has made important progress. Currently, this sector exceeds 50% of Romania's GDP. Banking has an important role in the economy by making financial intermediation, attracting deposits and placing credits. The increase in the number of banks on the Romanian market has led to intensification of competition and especially the awareness of the quality of online banking services offered. Therefore, the bank management has to take into account not only the “quality desired or achieved by the bank”, but also the quality perceived by the customer. In this paper we will start with an introduction of bank sector, and then we will present the methodology of research. The design of interview guide is the next step and in the main part of the paper is the analyses of data obtained and interpretation of results. Keywords: online banking, services quality, managers perception JEL Codes: M31, G29 How to cite: BUCUR, L., MANEA, N., & GOLDBACH, D. (2019). Opinions and Perceptions of Bank Managers on the Quality of Provisions of Internet Banking Services. Journal of Economic Development, Environment and People, 8(3), 53-59.
    [Show full text]
  • Notification by Banca Naţională a României (National Bank Of
    Template for notifying the intended use of a systemic risk buffer (SRB) Please send this template to • [email protected] when notifying the ESRB; • [email protected] when notifying the ECB; • [email protected] when notifying the EBA. Emailing this template to the above-mentioned addresses constitutes an official notification, no further official letter is required. In order to facilitate the work of the notified authorities, please send the notification template in a format that allows electronically copying the information. 1. Notifying national authority and scope of the notification 1.1 Name of the National Committee for Macroprudential Oversight notifying authority 1.2 Type of measure intended Activate a new SRB (also for reviews of existing measures) 2. Description of the notified measure 2.1 Institutions covered by the The systemic risk buffer is applicable to all credit institutions Romanian legal persons. intended SRB The following vulnerabilities across the national financial system have been identified: (i) the possibility of a renewed increase in non-performing loan ratios, following the rise in interest rates and the slowdown in the balance sheet clean-up process; (ii) the tensions surrounding macroeconomic equilibria. The level of the systemic risk buffer is set at 0 percent, 1 percent or 2 percent, according to the 12 months average of the non-performing loans ratio and the coverage ratio with provisions reported by each individual credit institution, in accordance with the following methodology: 2.2 Buffer rate Buffer rate Non-performing loans Coverage ration with (Article 133(11)(f) of (% of CET1 capital applied ratio provisions the CRD) to total RWA) < 5% > 55% 0% > 5% > 55% 1% < 5% < 55% 1% > 5% < 55% 2% This approach was implemented in order to support the credit risk management process and to increase the resilience of the banking sector against unanticipated shocks, amid structural unfavourable circumstances.
    [Show full text]
  • Notification by National Committe for Macroprudential Oversight Of
    Template for notifying the intended use of a systemic risk buffer (SRB) Please send this template to • [email protected] when notifying the ESRB; • [email protected] when notifying the ECB; • [email protected] when notifying the EBA. Emailing this template to the above-mentioned addresses constitutes an official notification, no further official letter is required. In order to facilitate the work of the notified authorities, please send the notification template in a format that allows electronically copying the information. 1. Notifying national authority and scope of the notification 1.1 Name of the National Committee for Macroprudential Oversight notifying authority 1.2 Type of measure intended Periodical recalibration of the SRB (also for reviews of existing measures) 2. Description of the notified measure 2.1 Institutions covered by the The systemic risk buffer is applicable to all credit institutions Romanian legal persons. intended SRB The vulnerabilities identified across the national financial system when the SRB was implemented are still present: (i) the possibility of a renewed increase in non-performing loan ratios, following the rise in interest rates and the slowdown in the balance sheet clean-up process; (ii) the tensions surrounding macroeconomic equilibria. The level of the systemic risk buffer is set at 0 percent, 1 percent or 2 percent, according to the 12 months average of the non-performing loans ratio and the coverage ratio with provisions 2.2 Buffer rate reported by each individual
    [Show full text]
  • Analysing the Financial Soundness of the Commercial Banks in Romania: an Approach Based on the Camels Framework
    Available online at www.sciencedirect.com ScienceDirect Procedia Economics and Finance 6 ( 2013 ) 703 – 712 International Economic Conference of Sibiu 2013 Post Crisis Economy: Challenges and Opportunities, IECS 2013 Analysing the Financial Soundness of the Commercial Banks in Romania: An Approach Based on the Camels Framework Angela Romana,*,Alina Camelia a aFaculty of Economics and Business Administration / Department of Finance, Money and Public Administration, "Alexandru Ioan Cuza" Abstract The Romanian banking system has undergone through tremendous changes in the last decade, its financial soundness and performance being paramount in the achievement of a stable and sustainable economic growth. Thus, the aim of our research is to comparatively analyse the financial soundness of the commercial banks that operate in Romania. In order to achieve this we have used one of the most popular methods for the analysis of the financial soundness of banks, namely the CAMELS framework. The obtained results highlight the strengths and the vulnerabilities of the analysed banks, underlining the need to strengthen the concerns of the decision makers from banks to improve and increase their soundness. © 2013 The Authors. PublishedPublished by by ElsevierElsevier B.V. B.V. Selection and peer-review underunder responsibility responsibility of of Faculty Faculty of of Economic Economic Sciences, Sciences, Lucian Lucian Blaga Blaga University University of Sibiu.of Sibiu. Keywords: banks, financial soundness, performances, CAMELS framework, Romania 1. Introduction In order to ensure a healthy, solid and stable banking sector, the banks must be analysed and evaluated in a way that will allow the smooth correction and removal of the potential vulnerabilities. In this way, one of the most popular methods for the analysis and evaluation of the banks soundness is represented by the CAMELS framework.
    [Show full text]
  • Operational Risk Disclosure in Romanian Commercial Banks
    Journal of Public Administration, Finance and Law OPERATIONAL RISK DISCLOSURE IN ROMANIAN COMMERCIAL BANKS Roxana HERGHILIGIU Alexandru Ioan Cuza University of Iasi, Romania [email protected] Abstract: This paper aims to assess the actual operational risk disclosure in Romanian banks. Therefore we focus on the operational risk information that Romanian banks reveal and if they conform to the requirements of the National Bank of Romania. The study methodology consists in testing the annual financial reports for Romanian commercial banks. The analysis shows that the financial reports of Romanian banks are not in consonance with the requirements of the National Bank of Romania relating to operational risk revealer and also there are many discrepancies between Romanian banks relating to the format of the financial report, which presents the operational risk disclosures. Commercial banks in Romania have different approaches of showing the disclosures of operational risk. Accordingly, they do not disclose the same types of information. Our study advice Romanian commercial banks to increase prevailing operational risk disclosure proceedings. The contribution of this paper is to highlight the Romanian commercial approaches of the operational risk disclosures. Keywords: operational risk; transparency, commercial banks, Basel II; The National Bank of Romania INTRODUCTION Compulsory disclosure is an important utensil designed to be used by the shareholders and clients to appraise operational risk. Therefore the annual financial reports
    [Show full text]
  • The Assessment of the Default Risk for the Banks of the Romanian Banking System
    International Journal of Economics, Finance and Management Sciences 2015; 3(1): 1-9 Published online January 19, 2015 (http://www.sciencepublishinggroup.com/j/ijefm) doi: 10.11648/j.ijefm.20150301.11 ISSN: 2326-9553 (Print); ISSN: 2326-9561 (Online) The assessment of the default risk for the banks of the Romanian banking system Sorin Mădălin Vlad 1, Gheorghe Ruxanda 2 1The Doctoral School – Economic Cybernetics and Statistics, Bucharest Academy of Economic Studies, Bucharest, Romania 2Department of Economic Cybernetics, Bucharest Academy of Economic Studies, Bucharest, Romania Email address: [email protected] (S. M. Vlad), [email protected] (G. Ruxanda) To cite this article: Sorin Mădălin Vlad, Gheorghe Ruxanda. The Assessment of the Default Risk for the Banks of the Romanian Banking System. International Journal of Economics, Finance and Management Sciences. Vol. 3, No. 1, 2015, pp. 1-9. doi: 10.11648/j.ijefm.20150301.11 Abstract: By the current study we analyze the performance and plausibility of the empirical results provided by the [5] Duffie and Lando (2001) credit risk structural model with asymmetric information. By construction, such a model can allow the endogenous understanding of the default event (typically for a structural model), the plausibility of the default intensity existence (typically for a reduced form model), as well as the tractability of analytical formulas to be used at the estimation of the credit risk parameters. Under this framework we analyze the empirical model results, by the quantitative creditworthiness assessment of the banks from the Romanian banking system, as financial institutions of a low default portfolio. For the model implementation we apply a special calibration approach for the accounting white noise parameter.
    [Show full text]
  • Roundtable on Finance for Energy Efficiency in Romania
    ROUNDTABLE ON FINANCE FOR ENERGY EFFICIENCY IN ROMANIA 11 October Bucharest 2018 Event organised in the frame of the Sustainable Energy Investment Forums funded by the Horizon 2020 programme of the European Union ROUNDTABLE ON FINANCE FOR ENERGY EFFICIENCY IN ROMANIA Table of contents Executive Summary ........................................................................................................................................................... 3 Conclusions ............................................................................................................................................... 3 Background to the event .................................................................................................................................................. 7 Introductory plenary ......................................................................................................................................................... 8 Moderator: Gabriel Avăcăriței, Chief Editor, Energynomics.ro Introductory Remarks ................................................................................................................................ 8 Tudor Constantinescu, Principal Advisor, DG ENERGY, European Commission ....................................................................... 8 Robert Tudorache, Secretary of State, Ministry of Energy ........................................................................................................ 8 Mihaela Virginia Toader, Secretary of State, Ministry of EU Funds .......................................................................................
    [Show full text]
  • Guarantee Signatures As at December 2019
    Breaking it Down Guarantee Signatures as at December 2019 Deal Geographic Commitment EFSI EFSI Name Resource focus (EURm) SMEW SMEWII Bpifrance - CCS GF CCS GF France 12,3 Yes IFCIC - CCS GF - DG CCS GF France 15,8 Yes Marginalen Bank Bankaktiebolag – CCS CCS GF Sweden 3,3 Yes Agrár-Vállalkozási Hitelgarancia Alapítvány (AVHGA) - COSME - LGF COSME-LGF Hungary 5,7 Yes Alpha Bank Albania - COSME LGF COSME-LGF Albania 1,4 Austria Wirtschaftsservice 2 (AWS) - COSME - LGF COSME-LGF Austria 6,7 Yes Banca Comerciala Romana (BCR) - COSME COSME-LGF Romania 6,0 Yes Banca Intesa ad Beograd - COSME - LGF COSME-LGF Serbia 7,2 Bank Gospodarstwa Krajowego (BGK) - COSME - LGF COSME-LGF Poland 21,5 Yes Banka Credins Albania - COSME LGF COSME-LGF Albania 1,0 BCC Lease 2 - COSME - LGF COSME-LGF Italy 4,8 Yes BEEQUIP B.V. - COSME LGF COSME-LGF Netherlands 4,8 Yes Buergschaftsbanken - COSME - LGF COSME-LGF Germany 2,7 Yes Caixa Geral de Depósitos - COSME LGF (digit) COSME-LGF Portugal 15,0 Yes Cassa Depositi e Prestiti 2 (CDP) Investment platform - COSME - LGF COSME-LGF Italy 90,9 Yes CEC Bank - COSME - LGF COSME-LGF Romania 1,6 Yes CERSA 2 - COSME - LGF - (digit) COSME-LGF Spain 53,2 Yes Ceskoslovenská obchodná banka (CSOB SK) - COSME - LGF COSME-LGF Slovakia 2,8 Yes Collector Bank AB - COSME LGF COSME-LGF Sweden 2,3 Yes Federation Nationale des SOCAMA 3 - COSME LGF COSME-LGF France 50,0 Yes Finnvera Oyj - COSME - LGF COSME-LGF Finland 4,5 Yes GARANTIQA Creditguarantee - COSME - LGF COSME-LGF Hungary 14,32 Yes Investiciono-razvojni fond Montenegro - COSME
    [Show full text]