Romanian Banks Association proposes the central bank to set up guarantee system on interbank marketPublish date: 17-10-2008
The Romanian Banks Association (ARB) suggested the central bank (BNR) to create a guarantee system for placements on the interbank market, to operate in certain periods of time, said the head of ARB, Radu Gratian Ghetea.
These days are tensioned, said Ghetea, adding each person is careful with the placed money and this is how blocking can appear.
He deems it would be ideal if such guarantees for interbank placements exist, as these "are based on trust."
Interbank interests for overnight deposits boosted to 15-25 percent per year today, high above the key interest rate of 10.25 percent per year.
This is not necessary because of a lack of liquidities on the market, but banks seem to hinder in placing money, said chief dealer with the fifth lender by assets Banca Transilvania, Ioan Birle.
This situation looks similar to the monetary market in Eurozone, blocked by banks' distrust in offering loans to each other, following fears regarding the status of the financial institutions.
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