ISDA letter to National Bank of Romania re. EU Bank Recovery and Resolution Directive
September 2, 2014
On September 2, ISDA wrote to the National Bank of Romania (NBR) to highlight certain issues in the context of the local implementation of the EU Bank Recovery and Resolution Directive (BRRD) in light of the recently amended netting legislation in Romania. These observations take into account the ISDA briefing note (see entry below) on Art.77(1) BRRD that is intended to assist EU member states in implementing the relevant provisions of that directive.