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May 6, 2021

Four banks draw EUR 770 M one-week loan from BNR

The National Bank of Romania (BNR) yesterday lent RON 3.353 bln, 770 M euro, for one week to four banks under a repurchase (repo) tender, at the key interest rate of 5.75 pc, Mediafax reports. Repurchase agreements entail the BNR offering liquidities to commercial banks in exchange for the latter buying state bonds. Dealers suspect that, at the previous tender too, funds have been drawn by some local banks, which in turn will finance the Finance Ministry, at lower interest, yet they don’t rule out some credit institutions finding it impossible to borrow money from the market.

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