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BNR to curb minimal compulsory reserves as soon as it sees long-term change of liquidity conditions

The National Bank of Romania (BNR) will curb the minimal compulsory reserves that the commercial banks should set up for the drawn resources as soon as it sees 'a long-term change of the liquidity conditions in the system, not a temporary one', BNR director of the Financial Stability Department Ion Dragulin told debates staged by KPMG Romania.

'The process should be slow and based on the certainty that we are in a phase of substantial liquidity shortage in the market. Until recently, the liquidity excess has entailed its absorption by the central bank', Dragulin stressed.

He said that in case the BNR sees that the time of liquidity excess ended, it will take the decision to cut the minimal compulsory reserves.

On this Oct. 30, the BNR Administration Board decided to diminish the minimal compulsory reserves to national leu currency liabilities to 18 percent down from 20 percent, with the move to be enforced for a month only, namely over Nov. 24 - Dec. 23. The measure will release some two billion lei into the market, analysts say.

 

Sursa: http://www.rompress.ro

Tags: liquidity reserves compulsory bnr minimal kpmg