FINANCIAL SUPERVISION STRUCTURE IN ROMANIA. A
                   COMPARATIVE APPROACH


                          Vasile Cocriş, “Al. I. Cuza” University of Iaşi
                         Bogdan Căpraru, “Al. I. Cuza” University of Iaşi

ABSTRACT: In this paper we assess the financial supervision and regulation structure in
Romania. To this purpose, we calculate and interpret the Financial Supervision Unification
Index (FSU Index) and the Central Bank as Financial Authority Index (CBFA) at the level of
the year 2011 (August), according to Masciandaro’s methodology (2004) for all EU27
member countries in order to make comparisons with the Romanian ones. We propose a
change in the present Romanian financial supervisory regime from the silos model to a hybrid
one, arrangement that supposes a combination of the sectoral model with the objectives-
centred model.

Keywords: central bank, financial stability, Romanian financial supervision and regulation structure,
the FSU Index, the CBFA Index

JEL codes: E58, G18, G28, L51