exposure

Romania’s representative to the International Monetary Fund, Mihai Tanasescu, said Sunday foreign banks’ local subsidiaries may transfer money outside the country should mother banks ask for it.

The parent banks of Romania’s top nine lenders have reduced their overall exposure to Romania by EUR1.2 billion (3.8%) between end-March and October, according to participants in the November 18 banking meeting in Brussels.

The parent banks of Romania’s top nine lenders, alongside officials of the International Monetary Fund, the European Commission and of Romanian central bank, are considering a 5% variation band to their exposure cap on the Romanian market, participants to the talks told MEDIAFAX Wednesday.

The parent banks of Romania’s top nine lenders have honored their commitments undertook in Vienna as regards to the local market, but their exposure to Romania is lower by EUR700 million compared to the end-March level, central bank's first deputy governor Florin Georgescu said Tuesday.

The parent banks of Romania’s top nine lenders have signed last week bilateral agreements to keep exposure to Romania unchanged from March’s level and maintain solvency rates above 10%, the International Monetary Fund said in a statement Monday.