The reporting is mandatory for

• Residents (individuals, legal entities, branches of foreign legal entities) that have entered into contracts with non-residents for operations of the nature of long-term private external debt

Use of information

• measurement of Romania's foreign debt
• compilation of the Balance of Payments and of the International Investment Position of the country
• statistical series containing aggregated data are made available to the interested public in the following pages: Data Sets>Indicators of the external sector and Interactive Database

Regulatory

• Regulation no.4/2021 on the reporting of data and statistical information to the National Bank of Romania, title II, chapter II (art. 81 - 86, see below)

Practical information

• The reporting term is 30 days from the contract conclusion with a non-resident
• The transmission is made in electronic format, at the address rdpe@bnro.ro

Forms

• Editable Forms: F1, F2, F3 / DOCs:  F2, F3

Regulation no. 4/2021 on the reporting of data and statistical information to the National Bank of Romania,

Title II, Chapter II Statistical reporting of long-term external private debt operations

Section 1 Scope

Article 81

Section 2 Definitions of basic terms

Article 82

The terms and expressions used in this chapter have the following meanings:

• long-term external private debt operations:
  • financial credits and loans with a term of more than one year, received by residents from non-residents, consisting in contract-based repayable financing such as standard financial credit/loan, syndicated loan, financing line, financial leasing operations, mortgage and consumer credit and other similar loans, except for financial credits and loans in the nature of external public debt;
  • loans related to international trade, with a term of more than one year, received by residents from non-residents, as well as loans taken out within international trade operations with goods and services, including payments in installments, by delivery stages, at the request of the suppliers of goods and services or payments made within a specific period of time from the delivery of the good/provision of the service, irrespective of whether any commercial papers have been issued, the rescheduling of such payments and the financing of such loans by a third party, with the exception of credits related to international trade in the nature of external public debt;
  • primary trading of debt securities with a term upon issue of more than one year (bonds and other fixed-income financial instruments) issued by residents on a capital market and purchased by non-residents, except for external public debt securities;
• resident - has the meaning provided in art. 2 a);
• non-resident - has the meaning provided in art. 2 b);
• initial date - the date of signing the contract or the date of the first drawdown, if the funds are made available to the debtor before signing the contract; in case of rescheduling or refinancing of an operation, the initial date is the date of signing the document by which the parties established the rescheduling/ refinancing of the contract;
• final date - the date of the last capital repayment or the date of the last payment of interest or commissions, if the payment is made after the last capital repayment;
• term - the time interval between the initial date and the final date;
• group of companies - structure consisting of a company that has control of another/other company/companies or has significant influence in this/these and the controlled company/companies, respectively influenced (affiliated companies). It is considered that one company controls another if it owns more than 50% of the capital or can designate its management (subsidiary). One company has a significant influence in another, if it holds between 10% and 50% of the capital of that company (associate). If a company indirectly controls or significantly influences other companies, through a chain of capital holdings, they are part of the group of the company that indirectly controls or significantly influences them;
• final investor - the entity at the top of the ownership chain of a group of companies, which is not controlled by any other entity;
• LEI code (Legal Entity Identifier) - a 20-character alphanumeric identification code of a legal entity, defined globally, which complies with the provisions of ISO 17442-1:2020.

Section 3 Reporting Obligations

Article 83

(1) Residents that have entered into contracts with non-residents for operations of the nature of long-term external private debt shall notify the respective operations by submitting to the National Bank of Romania - Statistics Department the F1 Form "Notification to the National Bank of Romania", provided in annex no. IX.1, and of the F2 Form "Schedule of drawings, capital repayments and interest and commissions payments", provided in annex no. IX.2, within 30 calendar days as from contract conclusion.

(2) The residents that, as per paragraph (1), have notified operations of the nature of long-term external private debt, shall still be required to notify the National Bank of Romania - Statistics Department, throughout the notified operation, change of registered office, termination of contract, change of creditor or debtor, change of the name of creditor or debtor, of the amount of credit or interest margin, of the share of creditor in the capital of the resident company, as well as other information regarding the identification and classification of the resident debtor or non-resident creditor, by submitting appropriately filled-in F1 Form within 15 calendar days. The change of the debtor shall be notified by the assigning debtor, with the new debtor further assuming the notification or reporting obligations related to such external commitment.

(3) The forms shall be sent electronically to the National Bank of Romania.

(4) If, at the completion of F2 Form "Schedule of drawings, capital repayments and interest and commissions payments", provided in annex IX.2, the exact amounts of drawings/repayments/interest or future commissions payments and the date of the operations are not known, these will be estimated.

(5) Operations of the nature of external private debt contracted for an indefinite period are assimilated to long-term operations.

(6) The National Bank of Romania shall register the operations notified according to the provisions of paragraph (1) in the Statistical Register of External private debt, by assigning a unique statistical code to each operation; this code represents the statistical identifier of the operation in the relationship between the National Bank of Romania and the resident who notified. The Statistical Register of External private debt includes all operations of the nature of long-term external private debt notified according to the provisions of paragraph (1).

(7) The IX.1 Form shall include the LEI code of the reporting entity and the non-resident partner for those entities that have allocated such a code for global identification.

Article 84

(1) Residents selected by the National Bank of Romania, on the basis of statistical sampling, as holders of contracts on representative external commitments for the assessment of Romania's external private debt, at the request of the National Bank of Romania – Statistics Department, shall report data on carrying out these operations. The reporting shall be made according to the F3 Form "Statistical reporting on long-term external private debt operations", provided in annex no. IX.3.

(2) The residents mentioned in paragraph (1) shall notify to the National Bank of Romania - Statistics Department, within 15 calendar days from their occurrence, all changes in the "Schedule of drawings, capital repayments and interest and commission payments" from the initially notified statement, by submitting a new F2 Form whenever such changes occur.

Article 85 Residents that, at the date of entry into force of this regulation, are in the process of reporting to the National Bank of Romania long-term external private debt operations, shall be required to continue statistical reporting under this regulation.

Article 86 The responsibility for the accuracy of the data and information submitted lies with the resident who contracted the operation in the nature of long-term external private debt.