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Central Bank release

In the context of recent evolutions on the monetary and forex markets, Romania's National Bank Surveillance Department has invited managers and treasury heads of six commercial banks to discussions. They were asked explanations connected to inter-banking market operations, as well as the excessive interest rates quotations, announced BNR in a release remitted on Thursday to Agerpres.

At the same time there were invited to these discussions the manager and treasury of another bank for clarifications on clearing operations the bank has carried out with non-resident financial institutions, as well as referring to the positions remained open within operations on the inter-banking market.

Invited banks were imperatively urged to re-enter normality.

BNR reiterated that recent evolutions of ROBID/ROBOR quotations represent a temporary and isolated situation.

It stressed that maintaining a long-term functional relation between banks and their clients supposes the avoidance of a non-justified transfer upon the last ones of the indirect interest rates hikes as a consequence of quotations which reflect the lack of functionality on the inter-banking market.

In the aim to secure the normal use of the inter-banking monetary market indicators and avoidance of similar situations, BNR Board decided to modify the norm which governs the inter-banking monetary market as follows:

In case in which the level of ROBOR interest rate exceeds with 25 percent BNR credit facilitation interest rate level, the Central Bank can temporarily suspend publication of ROBID/ROBOR indicators calculated on the base of participating banks' quotations.

In this situation, BNR will publish ROBID/ROBOR indicators established as follows: ROBID on all maturity rates, at the level of the credit facilitation interest rate of the central bank.

This modification is to enter into force in the next working day of the publication in the Official Gazette.

 

Sursa: http://www.rompress.ro

Tags: interest bnr market banking inter central

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