BNR loans RON 6.25 bln to ten banks

BNR loaned RON 6.246 bln (EUR 1.43 bln) to ten banks through a one-week repo operation at a monetary policy interest rate of 6 per cent per year, an operation expected by dealers since the Bank’s interventions on the forex market significantly lowered liquidity in the system, Mediafax notes.

The sum injected yesterday is the highest after February 2010 back when six banks borrowed RON 6.418 bln. By using repo operations, BNR offers liquidity to commercial banks and takes over state bonds.

In fact, expecting BNR’s offer, the banks lowered their interests for one-week deposits to 5.73-6.23 per cent, down from Friday’s level of 7.13-7.63 per cent.

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