BIS-reporting banks decreased their aggregate exposure* to Romania by USD 122mn in Q2 via reducing their exposure mainly to the non-bank sector by USD 144mn while the exposure to the banking system actually increased marginally by USD 22mn – preliminary data from the Bank of International Settlements show.
The net flow of resources to the Romanian banking system comes after a massive outflow of resources in the previous two quarters – some USD 2.1bn in Q1/2013 and USD 1.8bn in Q4/2012.
The exposure of BIS-reporting banks to Romania was USD 47bn at the end of June – out of which USD 19.4bn to the non-bank sector. The exposure to the banking system was therefore USD 27.6bn at the end of June.
The total assets of Romanian banks stood at USD 118bn at the end of June. Back in June 2008 -- before the credit crunch and the regional deleveraging, BIS-reporting banks held USD 45.9bn of Romanian banking assets. The banking assets totalled USD 129bn at the time.
* the figure represents the exchange-rate adjusted change in exposure in terms of assets
Romania’s Chamber of Deputies endorsed the controversial Code of criminal prosecution procedures on June 18, by 178 votes to 75 and one abstention. The bill was passed late in the night ... more
Romania’s Directorate for Investigating Organised Crime and Terrorism (DIICOT) raided on May 30 the offices and two plants of Austrian wood processing company Holzindustrie Schweighofer, local ... more
The European Commission, in the country-specific recommendation sent on May 23 to the ... more