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Bucharest
December 7, 2021
BUSINESS

BNR lends a record EUR 3.1 bln to 11 banks

BNR extended to 11 commercial banks, through a repo auction, one-week loans worth RON 13.85 bln (EUR 3.1 bln) in total, representing the highest amount of cash injected in the market by this type of auctions, Mediafax reports. Through repo auctions, BNR offers cash to commercial banks in exchange of state bonds at the key interest rate of 5.25 pc a year. In an auction held last week, the Central Bank financed 13 commercial banks with RON 11.95 bln (EUR 2.68 bln). At the end of May, BNR increased from 3 to 5 the number of state bonds issues which a bank may use as guarantees in an operation conducted on the monetary market, so the sums borrowed by banks increased starting with the first operation of June, when 13 banks borrowed RON 12.1 bln (EUR 2.7 bln) from BNR, which was the previous record.

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