CECAEN Rev 3
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Division 64

Activities of central (national) banks

This division covers the specific activities of Romania's central bank (BNR), which is the institution responsible for issuing the national currency, controlling inflation, and ensuring the country's financial stability. In short, it is the 'bank of banks' and guarantees the health of the Romanian banking system.

Included Activities & Applicability

  • ✅ Issuance and management of the national currency
  • ✅ Setting and implementing monetary policy
  • ✅ Managing foreign exchange reserves and gold
  • ✅ Supervising and regulating the financial-banking system
  • ✅ Granting loans to commercial banks (refinancing)
  • ✅ Administering interbank payment systems
  • ✅ Setting the reference interest rate
  • ✅ Acting as the state's bank (managing government accounts)

Excluded Activities & Restrictions

  • ❌ Standard commercial lending activities (commercial banks)
  • ❌ Insurance activities
  • ❌ Private pension funds
  • ❌ Non-monetary financial intermediation activities
  • ❌ Financial investment services (brokerage) for the public

Subordinate Structure

641 Activities of central banks (national)
→
6411 Activities of central banks
→
6419 Other monetary intermediation activities
→
642 Activities of holding companies
→
6421 Activities of holding companies
→
6422 Activities of financing channels
→
643 Activities of investment funds on the money market and outside the money market
→
6431 Activities of money market investment funds and non-money market investment funds
→
6432 Mutual funds and other similar financial entities
→
649 Financial leasing activities
→
6491 Financial leasing
→
6492 Other credit granting activities
→
6499 Other financial intermediation n.e.c., except insurance and pension funding activities
→

Detailed Analysis & Commercial Insights

Understanding CAEN Division 64: The Core of Romania's Financial Stability

CAEN Division 64 represents a fundamental pillar of the Romanian economy, exclusively covering the activities carried out by the National Bank of Romania (BNR). Although at first glance it may seem a narrow niche, its impact on the entire financial and macroeconomic system is overwhelming. The BNR, through its unique attributions, is responsible for issuing the leu, managing foreign exchange reserves, and implementing monetary policy aimed at maintaining price stability.

In the Romanian context, this institution has played a crucial role during crisis periods, such as the financial crisis of 2008-2009 or the COVID-19 pandemic, when it intervened to ensure banking liquidity and mitigate economic shocks. The evolution of the BNR from a simple issuing bank to a sophisticated regulator reflects the maturation of Romania's market economy, especially after joining the European Union.

Major challenges for the BNR include managing inflation in a volatile external context, maintaining exchange rate stability, and adapting to new financial technologies (fintech, digital currencies). For entrepreneurs, understanding the role of the central bank is essential, as its decisions regarding the reference interest rate or reserve requirements directly influence the cost of credit and liquidity in the economy.

Although CAEN code 64 is not accessible to private companies, knowing it helps in correctly interpreting monetary policies and the business environment.