The National bank of Romania, the National Equity Commission and the Insurance Supervising Commission signed a protocol of cooperation to promote the stability of the Romanian financial system on Friday.

The protocol aims at strengthening the collaboration between the three institutions without bringing prejudice to their autonomy and competences, for improved efficacy in solving cross-sector issues.

Five permanent committees were created to cover issues of joints interest for the three institutions: the Committee for Financial Stability, the Supervising and Control Committee, the Regulatory Committee, the Committee for Payment Systems and the Financial Statistics Committee.