2 Aprilie 2009
Croitoru: A minimum of 1 bln euro could be unlocked in the market
NBR’s decision to pare to bone the reserve requirements for foreign currency liabilities with two-year maturity will unlock a minimum of 1 billion euro in the market, said the councilor of central bank’s governor, Lucian Croitoru (photo).
“The amount is within the range of hundreds of million euros, below 1 bn if two-year maturity liabilities are at a maximum of 2 bn euros”, said Croitoru.
NBR governor, Mugur Isarescu said recently that it would gradually reduce the required reserve ratio, suggesting that it would start by modifying the calculation method, by excluding long-term financing.
The board of NBR decided on Tuesday to cut to zero the required reserve ratio for foreign currency liabilities with two-year maturity, and to keep the reserve requirements for leu-currency liabilities to 18%.
In the Tuesday’s session, BNR kept the benchmark lending rate to 10% and reiterated it would actively use market operations “in an effort to maintain a cash-aware liquidity management in the banking system”.
NBR governor, Mugur Isarescu said recently that it would gradually reduce the required reserve ratio, suggesting that it would start by modifying the calculation method, by excluding long-term financing.
The board of NBR decided on Tuesday to cut to zero the required reserve ratio for foreign currency liabilities with two-year maturity, and to keep the reserve requirements for leu-currency liabilities to 18%.
In the Tuesday’s session, BNR kept the benchmark lending rate to 10% and reiterated it would actively use market operations “in an effort to maintain a cash-aware liquidity management in the banking system”.