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Dragulin, BNR: Banks could borrow money from us, guaranteeing with credits

BNR is analyzing the possibility to expand guarantees accepted for loans contracted by banks from BNR by including corporate credits, which supposes that the debtors should be evaluated directly by the central banks.

"The matter is in the attention of the central bank but it has not been discussed by the BNR Administration Board yet. If it is approved, the document would suppose the setting up, within BNR, of an expertise corps which should evaluate companies and their financial situation and give them a rating," said Ion Dragulin, the director of the Financial Stability Department within BNR, quoted by NewsIn. "Then BNR may accept as guarantees to Lombard loans, credits given by banks to evaluated companies, if they have a high rating," he added. The Lombard credit is offered by BNR to banks which need cash but have to guarantee with state bonds. At present, the annual interest rate for the Lombard loan is 14.25%, being established at 4% over the monetary policy interest rate.

The central bank has in view this option of broadening guarantees for banks, for longer loans from BNR, in the conditions in which not all credit institutions have enough state bonds.

At the end of last month, interest rates in the monetary market went up exceeding 40% per year in the case of overnight deposits. BNR granted on Friday a Lombard credit of over 2 billion lei to commercial banks, when liquidity in the market had dropped considerably."The present level of interest rates is not representative and is not valid. Transactions are quite few but asks can reach even 100% on swaps. It depends on counterparty and liquidity", Ciprian Mihai, department head at Volksbank Romania treasury said.

Sursa: http://www.actmedia.ro

Tags: bnr banks credits

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