Technical committees
-report of activity-
ALB Leasing Council
January 31, 2012
ALB HQ
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Agenda
1. Main debated topics and implemented actions
2. Most debated topics
3. Most active committee
4. Conclusion
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Fiscal and accounting topics
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Accounting
Debates related to the IFRS transition
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Training with KPMG
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Topic on the agenda of several fiscal committees
Training with KPMG
Several letters sent to NBR

Established meeting with KPGM for working on monograph
NBR Order 26 concerning the treatments of recovered goods from
early termination of the leasing contracts
Update on ALB - KPMG accounting monographs
Fiscal
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VAT treatment concerning non-recovered goods from cancelled leasing
contracts
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Present on agenda of several fiscal committees
Started the infringement procedure on VAT at European Commission

Local taxes on real-estate properties and vehicles in case of early
termination of the contract
Treatment concerning the fines of the leasing contract user
Other debates on Romanian Tax Code

Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Juridical topics

Law approving GO 50/2010 on consumer credit agreements – reviews and
comments
 Seminars with ANPC
 Letters to ANPC

Law project on Debts collection
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Updating the leasing law

Changes on Fiscal Code – VAT

Compensatory interests perceived by some custom points

Fines due to not having the Romanian vignettes perceived through the
CESTRIN electronic system
 Working document with AMCC-AOMR. Project in stand-by.
 Topic on the agenda of several legal committees
 Several working-group meetings
 Infringement procedure initiated by ALB
 Meetings with Ministry of Finance
 Letter to CNADNR

New Civil Code
 Seminar with Voicu & Filipescu
 Topic on the agenda of several legal committees
 Future seminar to be organized with Stoica and Associates
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Juridical topics


ALB letter to the German authorities on fraudulent registration of some vehicles
in Germany
Analysis of the NBR answer concerning the interpretation of some stipulations of
the Order 26/2010 on NBFI according standards


Joint Committee (Legal and Fiscal) to analyze the legal framework
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
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Logistic committee

Compensatory interests imposed by some customs points


Local Taxes and Fines – date of imposition
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
Debates and letter to German authorities
The new Road Code

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
Survey
Vehicles fraudulently registered outside Romania. Recovery procedures
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
Discussions and meetings with Police authority
Future lobby actions in Romanian Parliament
Impact of the compensatory interests related to the financial leasing contracts
initiated from August 2006 to January 2007
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
Meetings with Ministry of Finance
The erasure of registration in case of early terminated contracts
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
Meetings with Ministry of Finance and Custom Authorities
discussion and analysis
Future lobby in Parliament
The fines for not holding a vignette incorrectly perceived from the leasing
companies

Letter to CNADNR
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Logistic committee

The new pollution tax
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TRANSBORDER CRIMES
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Meeting with Mr. Chief Commissioner Marian Iorga, Head of Department for stolen
vehicles, D.G.P.M.B.
Local taxes imposed to vehicles that are objects of cancelled leasing contracts
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

Lobby process initiated to Ministry of Environment
Meeting with Ministry of Finance
Letter proposing the change the Norms of the Fiscal Code
ALB – DGPMB collaboration

Meeting with Head of DGPMB (Bucharest’s General Police Department)
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Antifraud Topics

ALB-IGPR cooperation agreement – updates on issues related to the surveillance of the theft leased
goods
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
Debates and proposals for improving the collaboration with IGPR
New procedure implemented with IGPR
Viable solutions for anti-fraud policies


the presentation of the Real Time SRL and Dios Detective SRL services, societies specialized in
collecting and recovering commercial and civil claims and respectively in investigation activity
IGPR request for ALB database on early terminated contracts
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Risk 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.
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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
Meeting with IGPR antifraud experts
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
Second-hand vehicle market: Evaluating ways of the market risk on short
and average term; Evaluating ways of the just value and of the residual
value in the leasing contract
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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1) Main debated topics and implemented actions
Marketing Topics

Updates on leasing reporting model
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
Modification of the reporting model
Definition and interpretation of the terms according to the new reporting model of ALB

Identifying ways of promoting the leasing industry

Debates concerning the ALB National Conference. Proposals for promoting the
event.

Proposals for the Annual Year Book titles of the articles.

Interpretation of leasing industry results for different periods of 2011
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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2) Most debated topics
1.
2.
3.
4.
5.
6.
7.
8.
NBR order no. 26 concerning the accounting rules
Updates on leasing law
VAT treatment and updates on infringement procedure
Local taxes on real-estate and vehicles in case of early termination of the contract
New Civil Code
The new Road Code
ALB- IGPR collaboration
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.
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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3) Most active committee
Members attendance rate
50%
45%
45%
40%
34%
35%
30%
30%
28%
27%
25%
18%
20%
15%
10%
5%
0%
Fiscal
Committee
Legal Committee
Logistic
Committee
Risc Committee
Antifraud
Committee
Marketing
Committee
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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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



Antifraud committee
Marketing committee
Risk committee
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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