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Romanian Ctrl Bk, IMF To Analyze Foreign Bks’ Local Exposure On July 22

The parent banks of Romania’s top nine lenders will meet on July 22 in Brussels with representatives of the International Monetary Fund, the European Commission and the country’s central bank for the fourth evaluation of the agreement sealed in March 2009, official sources told MEDIAFAX.
Romanian Ctrl Bk, IMF To Analyze Foreign Bks’ Local Exposure On July 22
06 iul. 2010, 20:14, English

Most probably, the lenders will ask again for a reduction of their commitments regarding the total exposure to Romania, the same sources said.

After sealing the loan agreement with Romania, the IMF and the European Commission obtained the written agreement of the parent banks of the country’s top nine lenders that they will keep their exposure to Romania to the levels agreed at the end of March 2009.

In August 2009, IMF said the banks reaffirmed their commitments to keep overall exposure to Romania to the end-March level and to maintain their subsidiaries’ solvency ratio above 10%.

The nine parent banks are Erste Group Bank, Raiffeisen International, EFG Eurobank, National Bank of Greece, UniCredit Group, Societe Generale, Alpha Bank, Volksbank, and Piraeus Bank. Their market share amounts to around 70% of Romanian banking system.