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Finance Ministry borrows more than EUR 214 mn from banks

The Ministry of Public Finance (MFP) has borrowed on Monday more than 214 million euros (912 million lei) from the commercial banks via a discounted T-bill issue, auctioned through Romania's National Bank (BNR).

The Treasury bills have a six month maturity and the average profitability level at the moment of adjudication is of 7 percent. The average discount weight stood at 6.76 percent.

The total value of this issue was of more than 234 million euros (one billion lei) and total demand from the 12 banks participating in the auction stood at 356 million euros (1.52 billion lei), but MFP rejected bank offers exceeding 7 percent profitability rate.

A number of 12 banks submitted buying offers - Alpha Bank Romania, BRD - Groupe Societe Generale, Banca Comerciala Carpatica (BCC), Banca Comerciala Romana (BCR), Banca Transilvania, Bancpost, CEC Bank, Citibank Romania, ING, Raiffeisen Bank, RBS Bank Romania and UniCredit Tiriac Bank.

The last T-bills auction this month is fixed on Sept. 27, for T-bills with one year maturity, in value of one billion lei.

In the first eight months of 2010, MFP borrowed on the domestic market more than 25 billion lei, after in 2009 it attracted almost 65 billion lei.

Sursa: http://www.actmedia.eu

Tags: banks billion mfp ing rbs cec brd bnr bcr

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