Isarescu: Banks recapitalization does not exceed one bln euros

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Banks recapitalization in Romania in the aim to attain a solvency rate of minimum 10 percent in September, cumulated, does not exceed one billion euros, stated on Thursday Romania’s National Bank (BNR) Governor Mugur Isarescu present in the Central and Eastern-European Financial Forum, organized in Bucharest.
He pointed out that, following the stress tests, no bank had a solvency rate below eight percent, as its is the minimum legal level at present, with some banks having had this indicator at between 8 and 10 percent and that they must increase their capital.
The solvency indicator for the commercial banks in Romania, of 10 percent, is expressly stipulated by the agreement with the International Monetary Fund (IMF) and there is no danger the banks will infringe it at least for the duration of this accord (till May 2011), stated on Wednesday BNR prime vice-governor Florin George scu on the occasion of the aforementioned forum.
At present, the commercial banks in Romania must have a solvency indicator (own capitals/total passives) of minimum eight percent and will have available a few months to attain the 10 percent increased level.
All banks in Romania currently meet the legal solvency level and, following the stress tests, those in need of recapitalization will do it, said BNR official who also mentioned the commitment taken on Tuesday, in Brussels, by the nine largest foreign banks active in Romania.
George scu also said that, in certain specific situations, BNR might even require a solvency indicator above 10 percent, but at the moment there is no need, the same as that was not needed in the past 5-6 years.
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