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September 27, 2022

BNR lent RON 3.2bln to five banks for a week

The National Bank of Romania (BNR) lent, yesterday, RON 3.2bln to five banks, by a repo operation whose maturity term was set on August 23. This marks the highest amount placed by the central bank in such an operation since February, when it lent RON 6.418 bln, Mediafax reports. According to dealers, banks in the Top 10 also took part in the bid, banks whose liquidities may be ebbing after some corporate clients pulled out a portion of the deposits, for the payment of VAT and the profit tax. Some banks may not have laid aside the reserve for this month, choosing not to draw the funds immediately after the beginning of the term. The loans were granted at an interest of 6.25 pc, corresponding to the monetary policy rate. The latest loan above Tuesday’s level was granted by BNR on February 25, when it lent RON 6.418bln to banks, at an interest rate of 7 pc, corresponding to the monetary policy rate applicable at the time.

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