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Romanian monetary market and banking system are liquid

The Romanian monetary market and banking system are liquid, BNR Governor Mugur Isarescu said on Monday, after a meeting with Prime Minister Calin Popescu Tariceanu on the issue of the international financial crisis and of the salary rise requested by Romania.

The BNR official underscored that, paradoxically, an excess of liquidity is manifested on the monetary market, despite certain tensions which the Central Bank is trying to ease and of the bank customers' uncertainties.

Isarescu mentioned that the BNR on Monday attracted from the market 60 million lei and the extra liquidity was even bigger. The Central Bank has 'sterilized' these money at an interest of 10.25 percent, while interests on the monetary market stand at 12-12 percent, even at 14-15 percent, Isarescu said.

'There is a minimum compulsory reserve big enough to ensure this liquidity. The Central Bank can intervene where it is needed, when it is needed, in an exemplary manner and not in the respect of increasing a certain panic, which could emerge from no matter what,' the BNR official said.

Romania's National Bank is ready to take financial stability measures which the other European states are set to take and ensure supplementary liquidity in the banking system, the BNR Governor underscored.

'The Romanian banking system , accounting for 90 percent of the financial system is stable and safe and we do not expect, over the next period, important changes and emergency measures in this respect. Like all the European states, we are monitoring the evolutions in the international financial system, the European one in particular. We are ready to take the measures the European states are set to take, we are ready to ensure supplementary liquidity in the banking system, we are ready, if needed, to strengthen prudential rules again, strengthen the deposit guarantee systems, so that every Romanian can be sure of its savings and of the the fact that there is no danger,' Isarescu said.

Sursa: http://www.rompress.ro

Tags: system bnr liquidity banking monetary market romanian

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