Deposits 
Romania January Private Lending Down 1.5 percent, On Month. Deposits Down 1.8 percent
According to the central bank data, Romanian private lending fell 1.5% in real terms to 207.8 billion lei (EUR1=RON4.23) in January from a month earlier, but was up 4.3% on the year. On the other hand, deposits of non-government resident customers declined 1.8% on the month to RON174.3 billion in January, but were up 6,1% on the year. Private loans in Romanian lei declined 1.3% on the month to RON76.9 billion in January, while foreign currency loans decreased by 0.8% when expressed in lei. When expressed in euros, forex loans nudged down 0.1% in January. Compared with January 2010, loans in Romanian lei fell 4.2% in January, whereas hard currency loans rose 10% when expressed in lei . The deposits in lei went down 2% on the month to RON111.2 billion in January, while foreign currency deposits declined 1,3% when expressed in lei to RON63.09. When expressed in euros, forex deposits decreased by 0.6% in January. Compared with January... citeste mai mult
The European Commission proposes a minimal deposit guarantee of 100.000 euro
The European Commission has proposed to increase the minimum deposit guarantee threshold to 100,000 euro in one year, from 20,000 euro at present, while the payout period in the event of bank failure is to be reduced from three months to three days, the Commission said. "The new rules are designed to improve depositor protection and to maintain the confidence of depositors in the financial safety net," the EC said in a report. The EC said that under the new rules, the minimum level of coverage for deposits will be increased within one year from 20,000 euro to 100,000 euro, and initially to 50,000 euro in the intervening period. The proposal now passes to the European Parliament and the Council of Ministers for consideration. In Romania, the government has approved on Tuesday an emergency ordinance to increase the minimum deposit guarantee threshold to 50,000 euro, from 20,000 euro for a one-year period starting October 15. On Monday, central bank governor... citeste mai mult
Banks have managed to guess the code of Romanians
The repeated increase for interests to deposits seems to have touched at least partial the goal. Romanians begin to deposit their savings in bank lured by the profitability of the placement. Moreover, the Romanian leu is preferred when it comes about deposits, however it isn’t chosen when it comes about loans. In other words, we save money in lei, but we take loans in foreign currency. At the end of June, the deposits in banks, in lei and currency, totalized 21,4 billion euro while the value of the credits was amounted to 23,8 billion euro. From the beginning of the year, most of the commercial banks have announced successively increases for interests to deposits, especially for those in lei, and not once, but almost weekly, so now they’ve reached in case of some promotions, to be between 15-17% for lei. The experts “blame” BNR, explaining that the decisions taken during last months “forced” the banks to seriously think to the money of the... citeste mai mult
The returns of voluntary pensions, similar to banking deposits
The voluntary pension funds had a slow development. In eight months since started the adhesion to the third pillar, the seven funds put aside only 16,4 millions lei. The prudent adhesion is explained especially by the unrolling of the knowledge process. “When these saving instruments will be more known for the employees, as employers too, the number of participants will increase faster. This year participate the employers too, who offer voluntary pensions in the salary packets. Already the employers have another approach, including the pensions on their list of negotiation the labour contracts” Mircea Oancea, SCPPS president explains. According the law, the remunerated up to 52,5 years old can contribute to private voluntary pensions, the level of contributions being of maximum 15% from the gross incomes, and the contributions are deductibles in limit of 200 euro per year, as for employee (by income tax) and for employer (by profit tax). ... citeste mai mult
