Overnight Deposits At Romania Ctrl Bank Rise To RON14.5B In March

04.05.2011 By Florentina Dragu

Overnight deposits at Romania’s central bank reached a combined amount of 14.15 billion lei (EUR1=RON4.1147) in March, more than double on the month, central bank data showed Tuesday.

Overnight deposits at Romania's central bank reached a combined amount of 14.15 billion lei (EUR1=RON4.1147) in March, more than double on the month, central bank data showed Tuesday.

In February, total overnight deposits stood at RON6.3 billion.

The deposit facility rate was 2.25% in March, unchanged on the month.

The lenders didn't borrow any funds through the Lombard facility from the central bank in March.

In the first quarter of 2011, Romanian banks deposited a total of RON78.3 billion using the central bank's overnight facility.

The deposit facility can be used by the commercial bank as a short-term investing instrument to make overnight deposits with the central bank. It aims at regulating the liquidity level and stabilizing the market interest rates.

In 2010, Romanian lenders parked an overall amount of RON387.3 billion in overnight deposits, up sevenfold on the year. The banks only borrowed RON1.87 billion from the central bank through the Lombard facility last year.