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Bucharest
March 8, 2021
BUSINESS

13 banks borrow RON 7.33 bn from BNR

The National Bank of Romania (BNR) yesterday lent 13 banks a total of RON 7.33 bn (EUR 1.6 bn), the first time in 21 weeks that the central bank does not cap the amount available for loans, counting on the surplus of cash on the market, Mediafax reports. Traders say the low demand on Monday could be explained by the surplus of liquidity expected on the market in the upcoming period, as government bonds worth a total of RON 2.5 bn are falling due on Tuesday. In fact, this week the Ministry of Finance has scheduled just one bid for four-year government bonds, with an indicative value of RON 500 M. During the repo operation last week, 16 banks borrowed RON 10 bn from BNR and the tenders submitted by the lending institutions were almost three times higher – RON 29.86 bn.

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