The National Bank of Romania (BNR) favours the deepening of financial markets, for diversification and improvement of access to financing, in the context of rigorous management of risks regarding financial stability, the governor of the BNR, Mugur Isarescu, said on Wednesday, while attending a specialist event.

„At the European level, under the new umbrella of the Union of Savings and Investments, great emphasis is placed on the contribution of capital markets to the financing of new European economic and industrial ecosystems. The European strategic vision must be supported by financial and banking instruments and mechanisms, offered by both the banking industry and the financial markets, oriented towards authorities, retail and companies. The National Bank of Romania, an integral part of the European System of Central Banks, favours the deepening of financial markets, for the diversification and improvement of access to financing, in the context of rigorous management of risks regarding financial stability,” said Mugur Isarescu, at the 8th edition of the Capital Market Forum, with the theme „30 years since the reopening of the BVB,” an event organized by Financial Intelligence.

The governor of the BNR stated that he is part, together with several veterans present in the room, of the team that worked for several years to rebuild the stock exchange structures.

„In fact, the Bucharest Stock Exchange was reborn as a specialized department within the National Bank of Romania since 1991. We then hired a team of enthusiastic young people, sent them to specialize in various Western stock exchange centres, requested and received specialized technical assistance, invested in the necessary equipment and fixed assets, and after a few years we considered that they were ready to enter the battles of the market economy,” said Mugur Isarescu.

He said that the Bucharest Stock Exchange was founded in 1882, two years after the National Bank of Romania.

„There are not many stock exchanges in the world that have such a long history. The stock exchange has contributed to financing the national economy since the beginning of the country’s modern life,” said Mugur Isarescu.

He also claims that the Bucharest Stock Exchange represents a basic pillar of the capitalisation and financing of the Romanian economy, with a significant historical and educational component.

„The old building of the Bucharest Stock Exchange, an architectural jewel, represents a landmark of the values of our national history. We have the duty to relaunch it!,” Mugur Isarescu also said.

AGERPRES