BUSINESS

BNR lends EUR 2.68 bln to 13 banks

The National Bank of Romania (BNR) on Monday extended loans worth RON 11.95 bln (EUR 2.68 bln) in total to 13 commercial banks, through a 7-day repo auction, Mediafax reports. Via repo auctions, the central Bank provides cash to commercial bank in exchange of state bonds, at the key interest rate of 5.25 pc a year. In last year’s auction, 12 banks borrowed RON 11.51 bln (EUR 2.58 bln), also through a repo operation. At end-May, BNR increased from three to five the number of state bonds emissions which a bank may use as guarantees in a monetary market operation, so the sums lent to banks increased with the first operation conducted in June, when 13 banks borrowed from BNR a record RON 12.1 bln (EUR 2.7 bln).

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