• Presentation - Liviu Voinea, NBR Deputy Governor
• Financial Stability Report no. 1/ 2017

The 10 key messages of the Financial Stability Report

• Financial stability has remained robust, and risks have decreased in terms of both number and intensity compared with the same year-earlier period.
• The main high risk is of an external nature: the risk of fast deterioration in investor sentiment in emerging economies.
• The domestic macroeconomic environment is favourable, but tensions are building up from the perspective of above-potential economic growth and twin deficits.
• The financial cycle is lagging behind the business cycle, which paves the way for a future balancing of economic growth composition.
• High preference for liquidity, especially amid low interest rates.
• There is significant potential for a step-up in lending to companies.
• The risk of an uncertain and unpredictable legislative framework has abated significantly, but an impact on the credit market was observed.
• A new risk has emerged, which is low for the time being: the risk of a pick-up in property prices.
• The banking sector is adequately capitalised and has sufficient liquidity.
• The non-performing loan ratio has declined further.

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