Deposits of foreigners climb to 6.18 billion euros in August

The balance of this deposits is almost double that at the beginning of the year, of 3.2 billion euros.Analysts are saying that local banks use complex techniques by which they attract financing from their shareholders, in order to avoid the cost of mandatory minimum reserves, imposed by BNR. A rapid growth in this deposits, begun this spring, has come in the context in which banks have more and more difficult access to financing, both locally and internationally.But for deposits drawn in this way, local banks pay substantial interests. After the first eight months this year, the debt service generated by these deposits climbed to 877 million euros, compared with 250 million euros, in 2007. This August, the debt service climbed by 14 million euros, after it had already risen this July.

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