BNR: 10 pc solvency for banks, to stay the same at least on IMF agreement applicability

Commercial banks in Romania 10 percent solvency rate is expressly mentioned in the Agreement concluded with the International Monetary Fund (IMF) and there is no danger to be infringed at least during this agreement applicability period (till May 2011), stated on Wednesday prime vice-governor of Romania’s National Bank (BNR) Florin Georghescu present in the Central and South-Eastern European Financial Forum.
Currently, commercial banks in Romania must have a solvency indicator (own capital/total passives) of minimum 8 percent and they must attain the increased level, of 10 percent, in several months.
All banks in Romania now fulfill the legal solvency level and, after the stress tests, those in need of re-capitalization will do that, said BNR official who also noted Tuesday’s commitment in Brussels of the largest nine foreign banks active in Romania.
Georgescu said that in certain situations BNR can even ask for a solvency indicator in excess of 10 percent, but at the moment there is no such situation, as it has not been the case in the past 5-6 years.

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