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ALB Consumer Credit Council February 16, 2012 ALB HQ

ALB Consumer Credit Council February 16, 2012 ALB HQ. Technical committees -report of activity-. Agenda. Main debated topics and implemented actions Most debated topics Most active committee Conclusion. 1) Main debated topics and implemented actions Fiscal and accounting topics.

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ALB Consumer Credit Council February 16, 2012 ALB HQ

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  1. ALB Consumer Credit CouncilFebruary 16, 2012ALB HQ Technical committees -report of activity-

  2. Agenda • Main debated topics and implemented actions • Most debated topics • Most active committee • Conclusion

  3. 1) Main debated topics and implemented actionsFiscal and accounting topics Accounting • Debates related to the IFRS transition • Training with KPMG • NBR Order 26 concerning the treatments of recovered goods from early termination of the leasing contracts • Topic on the agenda of several fiscal committees • Training with KPMG • Several letters sent to NBR • Update on ALB - KPMG accounting monographs • Established meeting with KPGM for working on monograph • Project of the Order concerning the approval of the accounting Regulations according to the European directives. • Composition payment institutions reporting to NBR. Fiscal • The commission paid / received in relation to traders, concerning POS credit - accounting and tax treatment. • The fiscal treatment of fuel costs.

  4. 1) Main debated topics and implemented actionsJuridical topics • Law approving GO 50/2010 on consumer credit agreements – reviews and comments • Seminars with ANPC • Letters to ANPC • The Guide of Good Practices for CC industry • Law project on Debts collection • Working document with AMCC-AOMR. Project in stand-by. • New Civil Code • Seminar with Voicu & Filipescu • Topic on the agenda of several legal committees • Future seminar to be organized with Stoica and Associates • Glossary of terms and abbreviations as a good practice of UGO50/20010 • ANPC order concerning some measures to inform consumers • NBR Regulation no. 24/2011 concerning the credits granted to individuals • Letter to NBR • Debates and interpretations on the text of the law in few meetings of the legal committee

  5. 1) Main debated topics and implemented actionsRisk Topics • Regulation project concerning the classification of the credits and the settlement, regulation and use of provisions specific to the credit risk applicable to entities supervised by the NBR, other than the credit institutions. • Letter to NBR for changing the adjustment coefficient of real intrinsic guarantees from 25% to 74% • Study on the impact of the law approving EGO 50/2010 on industry • Updates on NBR regulation no. 3 concerning the individual crediting • NBR regulation no. 20 concerning NBFI activity • List of topics for ONPCSB training • Study of the EU Implementation Basel III. Draft legislative Proposals • Appliance of the banking prudential requirements within the context of the IFRS • Analyst of the NBR Regulation Concerning the credits of the individuals • Project of the regulation concerning the classification of credits and investments as well as establishing an using the value of prudential adjustment

  6. 1) Main debated topics and implemented actionsMarketing Topics • Updates on consumer credit reporting model • Modification of the reporting model • Definition and interpretation of the terms according to the new reporting model of ALB • Identifying ways of promoting the consumer credit industry • Debates concerning the ALB National Conference. Proposals for promoting the event. • Proposals for the Annual Year Book titles of the articles. • Interpretation of consumer credit industry results for different periods of 2011

  7. 2) Most debated topics • NBR order no. 26 concerning the accounting rules. • Code of best practices. • OUG 50. • New Civil Code. • NBR Regulation no. 24/2011 concerning the credits granted to individuals. • ANPC order concerning some measures to inform consumers • Regulation project concerning the classification of the credits and the settlement, regulation and use of provisions specific to the credit risk applicable to entities supervised by the NBR, other than the credit institutions.

  8. 3) Most active committee

  9. 4) Conclusion 1. Need for standard agenda for each committee according to – 2012 industry list of priorities 2. Need for standard “expert profile” for each committee 3. Need for decision related to the role and functioning of • Marketing committee • Risk committee

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