Abbreviations and acronyms

AAF

Asociatia Administratorilor de Fonduri (Romanian Fund Managers Association)

AMF

Autorité des Marchés Financiers (French Financial Supervisory Authority)

AMI-SeCo

Advisory Group on Market Infrastructures for Securities and Collateral

ANAF

Agenția Naționala de Administrare Fiscală (Fiscal Administration Agency)

APAPR

Asociatia pentru Pensiile Administrate Privat din Romania (Romanian Pension Funds’ Association)

ARB

Asociatia Romana a Bancilor (Romanian Association of Banks)

ASF

Autoritatea de Supraveghere Financiară (Financial Supervisory Authority)

AUM

assets under management

BIS

Bank for International Settlements

BSTDB

Black Sea Trade and Development Bank

BNR

Banca Naţională a României (National Bank of Romania)

BVB

Bursa de Valori Bucuresti (Bucharest Stock Exchange)

BSE

Budapesti Értéktőzsde (Budapest Stock Exchange)

CAGR

compound annual growth rate

CCIR

Chamber of Commerce and Industry of Romania

CCP

central clearing counterparty

CEB

Council of Europe Development Bank

CEE

Central and Eastern Europe

CNP

Romanian National Commission for Strategy and Prognosis

CPI

consumer price index

CSD

central securities depository

DEG

German Investment and Development Society

DVP

delivery versus payment

EBITDA

earnings before interest, taxes, depreciation, and amortisation

EBRD

European Bank for Reconstruction and Development

EC

European Commission

ECB

European Central Bank

EDC

European Data Co-operative

EEA

European Economic Area

EET

exempt-exempt-taxed

EIB

European Investment Bank

EIF

European Investment Fund

ELTIF

European Long-Term Investment Fund

ESMA

European Securities and Markets Authority

EU

European Union

FEAS

Federation of Euro-Asian Stock Exchanges

FESE

Federation of European Securities Exchanges

FIBEN

Fichier bancaire des entreprises (Business banking file)

FMO

Netherlands Development Finance Company

FSA

financial service authority

FTSE

Financial Times Stock Exchange

GAAP

Generally Accepted Accounting Principles

GDP

gross domestic product

GFCF

gross fixed capital formation

HMRC

Her Majesty’s Revenue and Customs

IFC

International Finance Corporation

IFRS

International Financial Reporting Standards

IOPS

International Organisation of Pension Supervisors

IPO

initial public offering

IRES

Romanian Institute for Evaluation and Strategy

IRIS

issuers reporting information system

ISDA

International Swaps and Derivatives Association

ISIC

international standard industrial classification of all economic activities

IMF

International Monetary Fund

JEREMIE

Joint European Resources for Micro to Medium Enterprises

MAS

Monetary Authority of Singapore

MFCR

Ministerstvo financí České republiky (Ministry of Finance of the Czech Republic)

MiFID

Markets in Financial Instruments Directive

MSME

micro, small and medium enterprises

MTF

multilateral trading facility

MTPL

motor third party liability insurance

MTS

multilateral trading system

NPL

non-performing loan

OECD

Organisation for Economic Co-operation and Development

OTC

over-the-counter

PE

private equity

PEA

Plan d’Épargne en Actions (Stock Savings Plan)

PMF

Ministerstwo Finansów (Polish Ministry of Finance)

PPP

public-private partnership

PPP

purchasing power parity

PPS

purchasing power standards

PwC

PricewaterhouseCoopers

R&D

research and development

REIT

real estate investment trust

RMF

România Ministerul Finanțelor (Romanian Ministry of Finance)

ROA

return on assets

ROE

return on equity

RON

Romanian Leu

SA

Societate pe Actiuni (joint-stock company in Romania)

SCoRE

Single Collateral Management Rulebook for Europe

SEE

South East European

S&G

Stability and Growth Pact

SIBEX

Bursa din Sibiu (Sibiu Stock Exchange)

SME

small and medium-sized enterprise

SNEF

National Strategy for Financial Education

SOE

state-owned enterprise

SPO

secondary public offering (follow-on offering)

S3

Smart Specialisation Strategy

UCITS

undertakings for the collective investment in transferable securities

UNSAR

Uniunea Națională a Societăților de Asigurare și Reasigurare din România (National Association of Insurance and Reinsurance Companies in Romania)

VAT

value-added tax

VC

venture capital

VCT

venture capital trust

WFE

World Federation of Exchanges