Romania
Romania’s banks and the role of the National Bank
Romania uses the Romanian leu (RON). Banks in the country serve households and businesses through local institutions as well as branches of banks based elsewhere in the European Union. Consumers may use accounts in lei or foreign currencies, but those choices come with different transfer and conversion costs. Romanian bank participation and branch status need to be checked separately.
The National Bank of Romania (NBR) is responsible for regulating and supervising credit institutions within its mandate. The Bank Deposit Guarantee Fund (FGDB) protects eligible deposits at participating Romanian institutions under the statutory scheme. Deposits with Romanian branches of EU-based banks usually fall under the guarantee scheme of the bank’s home state rather than the Romanian fund.