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BNR: Cut in foreign financing, major challenge to banking system

Bucharest, June 30 /Agerpres/ - The cut in foreign financing and the credit risk are the main challenges to the Romanian banking system, reads the survey on financial stability, carried on Monday by Romania's National Bank.

According to BNR, foreign financing of credit institutions and Romanian companies reported a rise in costs and cut in term of payment, following the global financial crisis. The credit risk grew mainly over the past months, following the worsening of internal economic conditions including the limitation of foreign demand for the subsidiaries of multinationals in Romania. The companies' sector therefore, encountered difficulties in financing, including pertaining to its costs.

'Considering the negative effects on the internal economic and financial environment, caused by the global crisis, BNR called on the monthly sending of report on adjusting their capital in the case of credit institutions which reported losses and a level of the index of solvability below the average in the system,' reads the report.

In the case of a bank running on foreign capital, the central bank took measures so that the level of the solvability index, reported monthly, does not drop below 10 percent. In the case of two banks running on mainly Romanian capital, the National Bank of Romania recommended the maintenance of a volume of own funds that ensures at least 10 percent of the solvability index.

 

Sursa: http://www.rompress.ro

Tags: system financing foreign bnr

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