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MFP borrows RON 1.199 bn from banks on Monday

The Public Finance Ministry (MPF) on Monday borrowed 1.199 billion lei (approximately 0.2801 billion euros) from commercial banks, through an issue of discounted T-bills placed on tender through the National Bank of Romania (BNR).

The securities have a one-year maturity and the average yield the issue was adjudicated at was 6.83 percent. The weighted-average discount rate stood at 6.39 percent.

The total value of the issue accounted for 1.2 billion lei and the total demand of the 12 banks participating in the tender amounted to 2.256 billion lei.

Twelve banks submitted bids to acquire government securities: Alpha Bank Romania, BRD-Groupe Societe Generale, Carpatica Commercial Bank, the Romanian Commercial Bank, Transilvania Bank, Bancpost, CEC Bank, Citibank Romania, ING Bank, Raiffeisen Bank, RBS Romania and UniCredit Tiriac Romania.

The Treasury wants to borrow 4.7 billion lei from banks in September, through six T-bill and bond issues, according to the data released on the MFP website. The loans' programme is 700 million lei higher compared with the previous month and MFP will issue again securities with under one year maturities, namely with six and nine month maturities.

Since the beginning of the year, MFP has borrowed from banks almost 37 billion lei and in 2010 it borrowed over 41 billion lei from the domestic market.

The budget deficit targeted for 2011 and agreed on within the financial package with the IMF and the European Union stands at 23.953 billion lei.

Sursa: http://www.actmedia.eu

Tags: banks billion mfp romania rbs ing bnr brd cec

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