The Romanian banking system is undergoing a profund restructuring process. Since March 1991 the National Bank of Romania has functioned only as independent, central, bank, being responsible only to Parliament. At present in Romania there are 42 banks. 11 of them are companies with local and foreign capital, nine are branches of foreign banks, five are banks with entirely foreign private capital, and four have entirly Romanian private capital.
Banks are free to fix their own interest rates.
Deep-going fiscal reforme have been implemented.