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Romania’s central bank lends 38.6bn lei to banks in Feb. at 14.05% interest

Romania's central bank (BNR) lent 38.625 billion lei to banks in February through the lending facility called the Lombard credit, the second record sum after the one in October and 22.6 percent above the January loans.

In January banks took 31.5 billion lei from BNR through the Lombard credit, following the 10.56 billion lei in December. In October the borrowed money reached a record level of 48.99 billion lei.

The average interest banks borrowed money at slipped in February from 14.25 percent to 14.05 percent after the central bank lowered the main interest rate from 10.25 percent to 10 percent.

The Lombard credit can be accessed by any lender at an annual interest of 14 percent, 4 percentage points above the key rate. Banks guarantee the loan through state securities. More lenders started to use the credit aid for 87.24 billion lei in the last three months of 2008, a 50-fold increase over the first nine months last year.

In October last year interbank interests swelled to 100 percent per year, the central bank's governor talking about an attack on the leu.

 

Sursa: http://www.newsin.ro

Tags: percent banks billion interest central bnr