27 Martie 2009
BNR governor: reduction of reserve requirement for foreign-currency liabilities will be gradual
BNR will cut the required reserve ratio for foreign-currency liabilities held by banks, given Romania’s recent loan arrangement, but the reduction process will be “extremely gradual”, said the governor of the central bank, Mugur Isarescu.
“Nevertheless, we will not suddenly cut the reserve requirement from 40 to 20%. The adjustment will be extremely gradual, as long as the economy cannot absorb”, a too large cash flow to be released, Isarescu explained.