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Romania’s Ctrl Bk To Cut Deposit Maturity To One Week

Romania’s central bank considers reducing to one week the timetable for deposits attracted from commercial lenders, deputy director with the bank’s monetary policy division, Dorina Antohi, said Thursday.
Romania’s Ctrl Bk To Cut Deposit Maturity To One Week
17 apr. 2008, 19:04, English
Currently, the central bank attracts deposits from lenders every two weeks, excepting occasional bids for deposits with shorter maturities, of a couple of days.
 
“A shorter maturity period will meet lenders’ needs, and the lenders also prefer a one-week maturity,” Antohi said.  
 
In February, the liquidity surplus on Romanian market reached 8.5 billion lei (EUR1-RON3.6167) compared to RON10.41 billion in the corresponding month a year ago, Antohi said.
Banks’ net liquidity deficit was of RON3.08 billion in February, against RON1.3 billion in February last year.
 
Romanian commercial banks own state bonds worth over RON5 billion, representing half of the bonds issued, Antohi mentioned.
 
She said Romania’s inter-banking monetary market is on an upward trend, while the secondary market of state bonds is decreasing.