Romania Ctrl Bank Keeps A Close Eye On Greek Subsidiaries

„The central bank has taken preventive action, reviewing financial reports the (Greek) banks must send every week,” Georgescu said.

He said the Greek subsidiaries are financially solid and well capitalized. Their solvency ratio stands at 15.7%, one percentage point above the local banking system’s average, Georgescu added.

„The good solvency ratio makes the banks eligible for potential support from the central bank,” he said.

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However, the central bank will not intervene unless the mother banks are no longer capable of supporting their subsidiaries, Georgescu said, mentioning the scenario has not presented yet.

He said the central bank has drafted a response action plan in case of possible spillover from Greece, which includes a series of measures „to be applied in adequate dosages” for each subsidiary.