{"id":688958,"date":"2026-04-24T00:36:04","date_gmt":"2026-04-24T00:36:04","guid":{"rendered":"https:\/\/microscopemedia.com\/?p=688958"},"modified":"2026-04-24T00:36:04","modified_gmt":"2026-04-24T00:36:04","slug":"arb-reactie-la-investigatia-consiliului-concurentei-privind-robor","status":"publish","type":"post","link":"https:\/\/microscopemedia.com\/?p=688958","title":{"rendered":"ARB, reac\u0163ie la investiga\u0163ia Consiliului Concuren\u0163ei privind ROBOR"},"content":{"rendered":"
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\u201eNe exprim\u0103m convingerea c\u0103 analiza final\u0103 a autorit\u0103\u0163ilor va confirma c\u0103 b\u0103ncile au ac\u0163ionat \u00een permanen\u0163\u0103 cu bun\u0103-credin\u0163\u0103, \u00een conformitate cu cadrul legal \u015fi de reglementare aplicabil, precum \u015fi cu regulile \u015fi metodologiile stabilite de autorit\u0103\u0163ile competente\u201c, a transmis ARB.<\/p>\n

Consiliul Concuren\u0163ei urmeaz\u0103 s\u0103 audieze institu\u0163iile de credit vizate de investiga\u0163ie, dup\u0103 ce toate cele zece b\u0103nci au primit o copie a raportului elaborat de echipa de investiga\u0163ie. Potrivit autorit\u0103\u0163ii de concuren\u0163\u0103, analiza a vizat activitatea b\u0103ncilor pe pia\u0163a monetar\u0103 interbancar\u0103 \u00een cadrul procedurii de fixing, precum \u015fi \u00een intervalul de 15 minute de dup\u0103 fixing, respectiv opera\u0163iunile de atragere \u015fi plasare de depozite interbancare de c\u0103tre b\u0103ncile participante la stabilirea ratelor ROBOR\/ROBID la nivel na\u0163ional.<\/p>\n

Mai multe b\u0103nci vizate au transmis deja puncte de vedere, unele sus\u0163in\u00e2nd c\u0103 au avut o conduit\u0103 conform\u0103 \u015fi aliniat\u0103 cerin\u0163elor legale. \u00cen func\u0163ie de evolu\u0163ia etapelor urm\u0103toare ale investiga\u0163iei, institu\u0163iile de credit au ar\u0103tat c\u0103 iau \u00een calcul utilizarea c\u0103ilor legale de contestare, inclusiv \u00een instan\u0163\u0103.<\/p>\n

ARB subliniaz\u0103 c\u0103 Banca Na\u0163ional\u0103 a Rom\u00e2niei are rol de organizator, reglementator \u015fi supraveghetor al pie\u0163ei monetare interbancare, potrivit Normei 4\/1995 privind func\u0163ionarea acestei pie\u0163e. Asocia\u0163ia arat\u0103 c\u0103 legisla\u0163ia impune criterii stricte de participare, iar regulile de tranzac\u0163ionare \u015fi de transparen\u0163\u0103 sunt stabilite la nivelul pie\u0163ei.<\/p>\n

\u201e\u00cen calitatea sa de supraveghetor al acestei pie\u0163e reglementate, BNR dispune, \u00een conformitate cu Regulamentul Uniunii Europene nr. 596\/2014, de cadrul legislativ necesar pentru prevenirea abuzului de pia\u0163\u0103 legat de manipularea indicilor de referin\u0163\u0103\u201c, sus\u0163ine ARB.<\/p>\n

Asocia\u0163ia afirm\u0103 c\u0103 nu de\u0163ine informa\u0163ii potrivit c\u0103rora b\u0103ncile ar fi fost sanc\u0163ionate pentru modul \u00een care \u015fi-au respectat obliga\u0163iile privind cotarea sau c\u0103 BNR s-ar fi sesizat \u00een contextul regulamentului european privind abuzul de pia\u0163\u0103.<\/p>\n

ARB avertizeaz\u0103 c\u0103 modul \u00een care subiectul a fost prezentat \u00een spa\u0163iul public poate crea confuzie cu privire la func\u0163ionarea unei pie\u0163e reglementate \u015fi poate genera efecte negative asupra stabilit\u0103\u0163ii financiare.<\/p>\n

\u201e\u00cen cazul unor subiecte cu impact sistemic, evalu\u0103rile sau concluziile anticipate pot genera efecte care dep\u0103\u015fesc cadrul investiga\u0163iei \u015fi influen\u0163eaz\u0103 negativ func\u0163ionarea pie\u0163ei \u015fi percep\u0163ia public\u0103. Este esen\u0163ial ca dezbaterea public\u0103 asupra acestui indicator s\u0103 fie realizat\u0103 cu maxim\u0103 rigoare \u015fi responsabilitate\u201c, a transmis ARB.<\/p>\n

Asocia\u0163ia sus\u0163ine c\u0103 ROBOR are un rol principal \u00een transmisia politicii monetare \u015fi \u00een func\u0163ionarea pie\u0163ei monetare, fiind totodat\u0103 important pentru stabilitatea financiar\u0103. Procesul de fixing este descris de ARB drept unul riguros, bazat pe cota\u0163ii de lichiditate din pia\u0163a interbancar\u0103 \u015fi supravegheat de BNR dup\u0103 reguli stricte.<\/p>\n

\u00cen ceea ce prive\u015fte cre\u015fterea dob\u00e2nzilor \u00eencep\u00e2nd cu anul 2022, ARB sus\u0163ine c\u0103 fenomenul nu a fost unul local, ci a fost determinat de factori macroeconomici precum infla\u0163ia, deficitele fiscale, criza energetic\u0103, r\u0103zboiul din Ucraina \u015fi structura economiei.<\/p>\n

\u201eFactorii care influen\u0163eaz\u0103 evolu\u0163ia ROBOR sunt lega\u0163i direct de dezechilibrele macroeconomice, de nivelul ratei infla\u0163iei \u015fi al dob\u00e2nzii de politic\u0103 monetar\u0103, de necesarul de lichiditate, percep\u0163ia agen\u0163iilor de rating \u015fi a finan\u0163atorilor \u00een general, precum \u015fi instabilitatea politic\u0103 \u015fi guvernamental\u0103\u201c, potrivit ARB.<\/p>\n

Asocia\u0163ia mai arat\u0103 c\u0103 fiecare banc\u0103 \u00ee\u015fi stabile\u015fte independent strategia de pre\u0163 \u015fi cota\u0163iile, pe baza propriilor analize de risc \u015fi a costurilor de finan\u0163are. \u00cen opinia ARB, similitudinea cota\u0163iilor \u00een anumite momente nu reprezint\u0103 o \u00een\u0163elegere \u00eentre b\u0103nci, ci o reac\u0163ie normal\u0103 a unor actori economici afla\u0163i sub acelea\u015fi presiuni de pia\u0163\u0103.<\/p>\n

ARB aminte\u015fte c\u0103, \u00een 2022, Rom\u00e2nia s-a confruntat cu o rat\u0103 ridicat\u0103 a infla\u0163iei, care a ajuns la 16,8% \u00een noiembrie, iar BNR a majorat dob\u00e2nda de politic\u0103 monetar\u0103 de opt ori, de la 1,75% \u00een 2021 la 6,75% la finalul anului 2022.<\/p>\n

Asocia\u0163ia mai precizeaz\u0103 c\u0103 o investiga\u0163ie similar\u0103 privind institu\u0163iile de credit active pe pia\u0163a monetar\u0103 interbancar\u0103 \u015fi modul de stabilire a ROBOR a fost declan\u015fat\u0103 de Consiliul Concuren\u0163ei \u015fi \u00een 2008, iar ARB sus\u0163ine c\u0103 nu are cuno\u015ftin\u0163\u0103 s\u0103 fi fost constatate deficien\u0163e de natur\u0103 concuren\u0163ial\u0103.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201eNe exprim\u0103m convingerea c\u0103 analiza final\u0103 a autorit\u0103\u0163ilor va confirma c\u0103 b\u0103ncile au ac\u0163ionat \u00een permanen\u0163\u0103 cu bun\u0103-credin\u0163\u0103, \u00een conformitate cu cadrul legal \u015fi de reglementare aplicabil, precum \u015fi cu … Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":688959,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/microscopemedia.com\/index.php?rest_route=\/wp\/v2\/posts\/688958"}],"collection":[{"href":"https:\/\/microscopemedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microscopemedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microscopemedia.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microscopemedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=688958"}],"version-history":[{"count":0,"href":"https:\/\/microscopemedia.com\/index.php?rest_route=\/wp\/v2\/posts\/688958\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microscopemedia.com\/index.php?rest_route=\/wp\/v2\/media\/688959"}],"wp:attachment":[{"href":"https:\/\/microscopemedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=688958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microscopemedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=688958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microscopemedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=688958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}