The National Bank of Romania (NBR) is inspecting banks, turningup even on unscheduled "visits", says Nicolae Cinteza, head of theNBR's Supervision Department. He says if any irregularities arefound, the NBR applies very tough sanctions, which can go as far asreplacing bank managers. "One such change has already occurred. Itdepends on what we find in our inspections, be they evenunscheduled ones," Nicolae Cinteza, who, for the last decade, hasknown all the banks' secrets. NBR inspectors started an extensivecampaign of inspections at commercial banks back in the summer,according to market information. These inspections generally lookinto whether prudential norms on lending have been met or not, aswell as into the accuracy of banks' reports to the NBR. Dependingon the size of the bank, inspections can last from a few days to afew weeks, with inspectors making controls both at headquarters andat territorial branches. Cinteza says the latest available data,August data, found no major problems in the overall bankingsystem.
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