At end-February 2009, broad money (M3) equalled RON 176,205.1 million, up 0.1 percent (down 0.8 percent in real terms) month on month. In year-on-year comparison, broad money rose 17.7 percent, or 10.1 percent in real terms.
Table 1. Monetary aggregates*
| INDICATORS |
28 February 2009
(RON mill.)
|
February 2009/
January 2009
(%) |
February 2009/
February 2008
(%) |
| M1 (narrow money) |
84,835.2 |
-3.5 |
3.9 |
| Currency in circulation |
24,821.9 |
-0.5 |
17.3 |
| Overnight deposits ** |
60,013.3 |
-4.7 |
-0.8 |
| M2 (intermediate money) |
175,838.1 |
0.0 |
17.5 |
| M1 |
84,835.2 |
-3.5 |
3.9 |
| Deposits with an agreed maturity of up to and including two years (includes also deposits redeemable at notice of up to and including three months) |
91,002.9 |
3.6 |
33.8 |
| M3 (broad money) |
176,205.1 |
0.1 |
17.7 |
| M2 |
175,838.1 |
0.0 |
17.5 |
| Other marketable instruments (repurchase agreements, money market fund shares and units, negotiable debt securities with a maturity of up to and including two years) |
367.0 |
9.9 |
376.4 |
*provisional data
**current accounts, sight deposits
Table 2. Broad money and its counterpart*
| INDICATORS |
28 February 2009
(RON mill.)
|
February 2009/
January 2009
(%) |
February 2009/
February 2008
(%) |
| Broad money (M3) |
176,205.1 |
0.1 |
17.7 |
| Net foreign assets |
19,848.5 |
-0.7 |
-32.6 |
| Net domestic assets |
156,356.6 |
0.2 |
30.0 |
*provisional data
Net foreign assets lost 0.7 percent in February 2009 to RON 19,848.5 million, as a result of "Currencies" decreasing by 6.4 percent and "Gold" advancing 4.8 percent on account of gold stock revaluation.
Net domestic assets picked up 0.2 percent to RON 156,356.6 million.
In February 2009, non-government loans granted by credit institutions edged up 0.2 percent (but declined 0.7 percent in real terms) from January 2009 to RON 206,890.1 million. RON-denominated loans remained unchanged at the previous month's level (decreasing 0.9 percent in real terms) whereas foreign currency-denominated loans rose by 0.4 percent when expressed in RON and by 0.1 percent when expressed in EUR. At end-February 2009, non-government loans climbed year on year by 30.7 percent, or 22.2 percent in real terms, on the back of the 17.3 percent increase in RON-denominated loans (9.7 percent in real terms) and the 41.7 percent advance in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans expanded by 23.1 percent).
Table 3. Non-government loans*
| INDICATORS |
28 February 2009
(RON mill.)
|
February 2009/
January 2009
(%) |
February 2009/
February 2008
(%) |
| Non-government loans (total) |
206,890.1 |
0.2 |
30.7 |
| RON-denominated non-government loans, of which: |
83,753.7 |
0.0 |
17.3 |
| - household loans |
40,383.7 |
-0.5
| 16.1 |
| - corporate loans (non-financial corporations and non-monetary financial institutions) |
43,370.0 |
0.4 |
18.4 |
| Forex-denominated non-government loans, of which: |
123,136.4 |
0.4 |
41.7 |
| - household loans |
62,505.5 |
0.2 |
49.2 |
| - corporate loans (non-financial corporations and non-monetary financial institutions) |
60,630.9 |
0.6 |
34.7 |
*provisional data
Government credit1 (central government, local government and social security funds) stood 13.8 percent higher in February at RON 24,831.6 million. At end-February 2009, government credit increased 142.0 percent, or 126.4 percent in real terms, from the same year-ago period.
Deposits of non-government resident customers picked up month on month by 0.1 percent, reaching RON 154,347.1 million.
Table 4. Deposits of non-government resident customers*
| INDICATORS |
28 February 2009
(RON mill.)
|
February 2009/
January 2009
(%) |
February 2009/
February 2008
(%) |
| Deposits of non-government resident customers (total)** |
154,347.1 |
0.1 |
17.8 |
| RON-denominated deposits of residents, of which: |
96,230.4 |
0.5 |
11.2 |
| - household deposits |
56,001.1 |
2.7 |
25.3 |
| - corporate deposits (non-financial corporations and non-monetary financial institutions) |
40,229.3 |
-2.4 |
-3.9 |
| Forex-denominated deposits of residents, of which: |
58,116.7 |
-0.5 |
30.8 |
| - household deposits |
33,424.1 |
0.4 |
24.0 |
| -corporate deposits (non-financial corporations and non-monetary financial institutions) |
24,692.6 |
-1.6 |
41.2 |
*provisional data
**includes current accounts, sight deposits and all term deposits, irrespective of maturity
RON-denominated household deposits added 2.7 percent to RON 56,001.1 million. At end-February 2009, household deposits in domestic currency jumped 25.3 percent, or 17.2 percent in real terms, against the same year-ago period.
RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) shrank 2.4 percent to RON 40,229.3 million. At end-February 2009, RON-denominated corporate deposits decreased year on year by 3.9 percent, or 10.1 percent in real terms.
Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) declined by 0.5 percent to RON 58,116.7 million when expressed in domestic currency (when expressed in EUR, forex deposits inched down 0.8 percent to EUR 13,544.2 million). In year-on-year comparison, residents? forex deposits expressed in RON advanced 30.8 percent (when expressed in EUR, residents' forex deposits augmented by 13.6 percent); household deposits in foreign exchange surged 24.0 percent when expressed in domestic currency (when expressed in EUR, household forex deposits increased by 7.7 percent) and corporate deposits in foreign exchange (non-financial corporations and non-monetary financial institutions) were up 41.2 percent when expressed in RON (when expressed in EUR, deposits in foreign exchange of corporate residents grew 22.7 percent).
1Marketable securities included