5% of savings set up for over one-year maturity

Only 5% of the population’s deposits are made for periods longer than a year, while 30% of them are overnight deposits, shows data for January supplied by the NBR (National Bank of Romania) NBR’s includes in the overnight deposit category deposits that can be converted immediately into cash, or used for payments through a cash transfer. The volume of deposits with maturities that are longer than a year totalled 2.35 billion RON (690 million euros) at the end of January. Most of these deposits were set up in RON and amounted in total to 1.9 billion RON. In fact, irrespective of their maturity the bulk of the population’s savings are in RON. Almost 68% of the overnight deposits and 63% of the term deposits are set up in RON. The total volume of the population’s deposits stood at 46.9 billion RON (13.8 billion euros) at the end of January, 65% of which were set up for periods of up to a year.