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Banks Refuse To Give Credits On Lack Of Long-Term Funds – Romanian Ctrl Bker

Romanian banks have lots of requests, but they don’t want to grant loans, due to lack of long-term financing, although they argue the new household lending rules limit their activity, the central bank's Supervision Department director Nicolae Cinteza said Friday.
Banks Refuse To Give Credits On Lack Of Long-Term Funds - Romanian Ctrl Bker
28 nov. 2008, 13:32, English

Cinteza said that in October were very few banks that applied the new lending regulation, so the bankers are not right when they ask for an amendment of the new lending regulation.

He said that, in the context of the international financial crisis, which is expected to hit Romania as well and reduce the lending activity, the banks might also be affected by the side effects of the massive loans given in a period when indicators looked good.

Cinteza also said that the National Bank of Romania has sent a delegation to Vienna to discuss with other supervision authorities in the region about the situation of the banks that have Austrian capital, such as Erste, Raiffeisen or Volksbank.