Eligible participants according to National Bank of Romania Regulation no. 1/2000 are providing financial instruments which must be eligible for trading and collateralization in open market operations of the National Bank of Romania in accordance with the legal provision of the Regulation no. 3/2016 regarding the eligible assets for the participation in open market operations of the National Bank of Romania and the standing facilities of the National Bank of Romania.

In order to be accepted as eligible assets for the National Bank of Romania’ operations, the financial instruments will be appraised taking into consideration general eligibility criteria and also specific eligibility criteria.

The categories of eligible assets for trading and collateralization in open market operations of the National Bank of Romania comprise:

• Debt instruments issued by Romanian general government,
• Debt instruments issued by National Bank of Romania,
• Debt instruments issued by international financial institutions as specified in article 9 letter a) of Regulation no. 3/2016 regarding the eligible assets for the participation in open market operations of the National Bank of Romania and the standing facilities of the National Bank of Romania
• Debt instruments issued by eligible credit institutions based on a receivables portfolio – mortgage bonds, according to the applicable national legislation.

National Bank of Romania daily provides on its own website the List of the eligible assets which can be accepted as collateral in National Bank of Romania open market operations.

The process of including new issues in order to be accepted as collateral will be initiated by the issuer through a Request for every new series which will be transmitted to National Bank of Romania: Application for approval of a new issue to be accepted as collateral for the National Bank of Romania operations

The use and allocations of the eligible assets by the eligible participants in order to participate in National Bank of Romania operations will be made for each type of operations according to the provisions of the Regulation no. 1/2000.

Eligible assets for trading and collateralization are valued on a daily basis by the National Bank of Romania at the adjusted value, calculated by deducting haircuts, expressed as a percentage, from the market value set by the National Bank of Romania, depending on the type of the financial instrument accepted as eligible asset.

The market value and the haircuts related to eligible assets for trading and collateralization are made available to participants by the National Bank of Romania via communication means specific to SaFIR.