National Bank has its eye on foreign funding attracted by banks

As of September 30, banks are required to send data to the NBR (National Bank of Romania) every day, on funding sources attracted from the foreign market, as featured in the balance sheet at the end of the previous day, as well as information on repayment or withdrawal of funding lines before the maturity date. The central bank is, therefore, monitoring more closely transactions carried out by Romanian credit institutions with foreign ones. This will enable the NBR to check the stability of funding lines, which are mainly granted by parent banks, in the context of the deepening international financial crisis. In the case of repayment or of withdrawal of resources obtained before maturity, the NBR (National Bank of Romania) requires that the reasons for such moves should be specified. Over the last few months, many banks have successively increased interest rates granted for deposits in euros, to levels of as much as 6% a year, in order to ensure as wide a financing basis as possible, independently of shocks on the international markets.