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BNR will analyze in January the effects of new crediting rules

The decrease of the minimum compulsory reserves will depend on the way in which the banks will use the surplus of liquidity.

Sinaia - The National Bank of Romania will analyze in January the effects of the new regulations governing the credits for the population and could decide the readjustment of the conditions to the new realities of the market, the first Vice-Governor of BNR, Florin Georgescu, announced yesterday at the EU-Cofile seminar organized at Sinaia by Alpha Bank, BNR and the Romanian Banks' Association (ARB).

"We discussed with the persons from the Romanian Banks' Association and we established to review in January, based on the statistical data from December, the opportunity of a re-adaptation of the norms regarding the population in order to assure their flexibility and the adaptation to the realities of the market," Georgescu said, quoted by Mediafax.

The central bank official stated that the drop in crediting registered in October was not determined by the new norms, generally endorsed by the central bank in the second half of the month.

Georgescu says that in a proportion of around 90 per cent the banks worked in October subject to the old regulations, and the slowing down of the crediting was determined by the lack of liquidity from the banks and the reserve of the latter to finance. "It is easy to say that the doctor doesn't allow you to eat, but maybe you don't have money in your purse in order to eat," Georgescu said.

The balance of the corporate and personal crediting dropped 0.6 per cent in October, mainly under the influence of the appreciation of the national currency at the end of the period, which conducted to a fall of the value of the loans in foreign currency.

According to Georgescu, a future decision regarding the cutting of the rate of the minimum compulsory reserves will depend on how the banks will use the surplus of liquidity entered since November 24 through the reduction of the minimum compulsory reserves from 20 per cent to 18 per cent of the liabilities in national currency.

ARB President Radu Ghetea declared last week that the commercial banks will request BNR to modify the regulations regarding the credits granted to population, because the new conditions have blocked the mortgage loans. The foreign currency risk, the interest rate risk, and the possibility to increase the cost of the credit coming from commissions and other administration expenditures stipulated in the contract will be taken into account for the determination of the indebtedness degree.

The assets of the banking system - 59 pc of GDP

The assets of the banking system rose in September to EUR 79.6 bln, representing 59 per cent of GDP, compared to a level of 54 per cent of GDP in December 2007, in the conditions in which the first five banks have reduced their weight from 58 per cent to 55 per cent of the total assets.

Georgescu made public also the data regarding the profitability of the banking system, the net gains in the first nine months being 43.77 per cent over the profit registered in the whole year 2007, at RON 3.62 bln.

"The bankers have spoken chiefly about redistributions, about a bigger emphasis on the activities from certain areas with a bigger volume, about the reduction of the period necessary to process the credit files," Georgescu added.

In his turn, BVB President Stere Farmache stressed that the corporate bonds will become increasingly attractive as funding instruments, on the background of the banking credit. The bonds have common points with the banking loan, but the difference is that the capital market brings the investors face to face, while the decisions over the credits are concentrated in the hand of the managers or representatives from the banks, Farmache said.

 

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Tags: georgescu banking bnr banks crediting january bvb

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