The National Bank of Romania (BNR) continuously monitors operational and cyber risks within the financial-banking system through the supervision of credit institutions and financial market infrastructures, the analysis of reported incidents, assessment missions, questionnaires, and thematic analyses regarding digitalization and the use of Artificial Intelligence (AI), the institution stated on Friday.
"The tools employed include both banking sector stress tests focused on cyber risk and, separately, advanced cyber resilience tests. The latter have been conducted regularly since 2024 by financial market infrastructures and systemic credit institutions at the national level, simulating techniques used by sophisticated attackers. The most recent exercise revealed no significant operational vulnerabilities among the assessed entities; credit institutions were generally prepared to activate business continuity plans and crisis management procedures. The European regulatory framework imposes strict obligations on financial institutions regarding digital operational resilience. Consequently, banks must demonstrate not only that they have effective protective measures in place but also that they can ensure the continuity of critical services or, where applicable, their rapid restoration following disruptive incidents or events by periodically testing their operational capabilities," the Central Bank noted in a statement sent to AGERPRES.
On the other hand, the institution emphasizes that cash remains an essential component of the monetary system, and ensuring access to it for the public and economic agents is one of the BNR's constant priorities, in line with their actual needs.
"Access to cash plays an important role in ensuring participation in economic activities and serves as a tool for fostering financial inclusion, particularly in regions with underdeveloped financial infrastructure. Beyond the significant role cash plays under normal circumstances, it can prove relevant in crisis situations especially given the heightened cyber risk resulting from geopolitical developments," the statement reads.
According to the cited source, the Financial Stability Report of December 2024 notes that the cash in circulation had reached 120.3 billion lei, with an availability rate of 98%.
Furthermore, the ATM network covered approximately 13.4 million people representing 71% of the resident population aged 15 and over with all urban localities having at least one ATM.
"Relative to population size, Romania's network is comparable to Poland's and more extensive than the Czech Republic's, although disparities in access persist in rural areas. Cash and digital financial services should be viewed as complementary tools. Keeping reasonable amounts of cash on hand can support the continuity of essential payments in exceptional situations; however, holding large sums outside the banking sector entails risks of theft, loss, or destruction, particularly given the proven stability of the Romanian banking system. Eligible deposits are covered by the guarantee scheme up to the equivalent of 100,000 per depositor, per bank. Therefore, a prudent analysis of cyber risks should not be mistaken for a call to withdraw deposits or abandon digital financial services," state BNR specialists.
On July 7, 2026, the European Systemic Risk Board (ESRB) published Warning ESRB/2026/3 regarding systemic cyber risks posed by frontier AI models. Experts from the National Bank of Romania (BNR) also participated in preparing the technical analysis underpinning the warning from a financial stability perspective.
The warning is a preventive macroprudential policy tool addressed to authorities and financial institutions with the aim of strengthening resilience. It does not signal the occurrence of an incident nor does it anticipate the inevitability of a systemic gridlock in the financial sector; however, the early identification and communication of risks are essential for preventing them and limiting potential impacts.
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