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Finance Ministry borrows almost RON 399 mn from banks

The Public Finance Ministry (MFP) on Monday drew over 398.69 million lei (approximately 93.81 million euros - editor's note) by issuing discount treasury bills, placed in tender by the National Bank of Romania (BNR).

The government securities have a one-year maturity, and the issue was purchased at an average benefit of 7 percent. The weighted average discount rate was 6.54 percent.

The total value of the issue was one billion lei and the total demand of the twelve banks involved in the tender was 1.353 billion lei, but MFP rejected the bidding by the banks that exceeded a 7 percent yield.

Twelve primary dealers laid offers on the government securities: Alpha Bank Romania, the Romanian Development Bank - Groupe Societe Generale, the Carpatica Commercial Bank, the Romanian Commercial Bank, the Transilvania Bank, Bancpost, the CEC Bank, Citibank Romania, ING Bank, the Raiffeisen Bank, the Royal Bank of Scotland (RBS) Romania and UniCredit Tiriac Bank.

In the first eight months of 2010, MFP borrowed over 25 billion lei from the internal market, after drawing approximately 65 billion lei in 2009.

Sursa: http://www.actmedia.eu

Tags: banks mfp rbs ing bnr cec

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