The financial system of Romania evolved under conditions that were marked of the virulent manifestation of the financial and economical global crisis. At the beginning of the crisis, the Romanian economy went through a multi-year economical growth period, at high levels, but it was accompanied by the accumulation of a relatively important external deficit and the increase of the external debt on short-term. The banking sector, having a dominant position in the financial system, resisted well to these pressures. The financial stability was put to the test by a new vulnerability- the volatility of the external financing.From the conducted research, we reached the conclusion that the banking sector continued- even after the EU integration, to record financial health indicators in the positive specter, being well capitalized and having appreciable financial results. The stress testing analysis also indicate a good absorption capacity of moderate shocks. There are two vulnerabilities manifested more significantly, fueled by the global financial and economical crisis: the credit and liquidity risks.