At end-January 2019, broad money (M3) amounted to RON 382,664.2
million, up 0.4 percent (down 0.4 percent in real terms) month on month. In year-on-year
comparison, broad money rose 9.7 percent (6.1 percent in real terms).
Table 1. Monetary aggregates*| INDICATORS | 31 January 2019
(RON mill.) | Jan. 2019/
Dec. 2018
% | Jan. 2019/
Jan. 2018
% |
|---|
| M1 (narrow money) | 233,207.7 | -0.9 | 11.9 |
|---|
| Currency in circulation ** | 68,132.4 | 0.5 | 10.0 |
|---|
| Overnight deposits *** | 165,075.2 | -1.4 | 12.7 |
|---|
| M2 (intermediate money) | 382,664.2 | 0.4 | 9.7 |
|---|
| M1 | 233,207.7 | -0.9 | 11.9 |
|---|
| Deposits with an agreed maturity of up to and including two years (includes also deposits redeemable at a period of notice of up to and including three months) | 149,456.5 | 2.4 | 6.4 |
|---|
| M3 (broad money) | 382,664.2 | 0.4 | 9.7 |
|---|
| M2 | 382,664.2 | 0.4 | 9.7 |
|---|
| Other marketable instruments (repurchase agreements, money market fund shares and units, debt securities with a maturity of up to and including two years) | 0.0 | 0.0 | -100.0 |
|---|
* provisional data
** currency outside banks
***current accounts, demand deposits
Table 2. Broad money and its counterpart*| INDICATORS | 31 January 2019
(RON mill.) | Jan. 2019/
Dec. 2018
% | Jan. 2019/
Jan. 2018
% |
|---|
| Broad money (M3) | 382,664.2 | 0.4 | 9.7 |
|---|
| Net foreign assets ** | 174,300.9 | 4.6 | 9.7 |
|---|
| Net domestic assets *** | 208,363.3 | -2.9 | 9.6 |
|---|
* provisional data
** after deducting foreign liabilities from foreign assets.
Foreign assets include: loans granted to non-residents; deposits with non-residents; debt securities held (issued by non-residents); shares and other equity with non-residents; monetary gold.
Foreign liabilities include funds raised from non-residents: deposits; negotiable debt securities issued on external markets. Starting December 2014, according to the new international statistical standards (ESA 2010), the IMF’s SDR allocations are included in foreign liabilities.
*** after deducting domestic liabilities (except M3 components) from domestic assets.
Domestic assets include: loans granted to residents; negotiable debt securities held (issued by residents); shares and other equity with residents.
Domestic liabilities (except M3 components) include funds raised from residents: deposits with an original maturity of over two years (including deposits redeemable at notice over three months); negotiable debt securities with an original maturity of over two years issued on the domestic market; capital and reserves.
At end-January
2019, non-government loans granted by credit institutions advanced 0.5 percent (down 0.4 percent in
real terms) from December 2018 to RON 252,190.9 million. RON-denominated loans went
down 0.4 percent (down 1.2 percent in real terms), whereas foreign
currency-denominated loans advanced 2.1 percent when expressed in RON (up 0.6 percent
when expressed in EUR). In year-on-year comparison, non-government loans went
up 8.4 percent (4.9 percent in real terms), on the back of the 12.8 percent
increase in RON-denominated loans (9.2 percent in real terms) and the 0.9 percent
growth in foreign currency-denominated loans expressed in RON (when expressed
in EUR, forex loans dropped 0.8 percent).
Table 3. Non-government loans*| INDICATORS | 31 January 2019
(RON mill.) | Jan. 2019/
Dec. 2018
% | Jan. 2019/
Jan. 2018
% |
|---|
| Non-government loans (total) ** | 252,190.9 | 0.5 | 8.4 |
|---|
| RON-denominated non-government loans: | 164,935.3 | -0.4 | 12.8 |
|---|
| -households | 95,938.7 | 0.3 | 18.9 |
|---|
| -other sectors (non-financial corporations and non-monetary financial institutions) | 68,996.5 | -1.4 | 5.4 |
|---|
| Forex-denominated non-government loans: | 87,255.6 | 2.1 | 0.9 |
|---|
| -households | 37,574.2 | 0.6 | -9.1 |
|---|
| -other sectors (non-financial corporations and non-monetary financial institutions) | 49,681.4 | 3.3 | 9.9 |
|---|
* provisional data
** non-performing loans are also included
Government credit1 decreased 0.6 percent in January 2019 from the previous month to
RON 104,919.1 million and increased by 10.6 percent (7.0 percent in real terms)
versus the same year-ago period.
Deposits of non-government resident customers went
up 0.5 percent month on month to RON 331,427.6
million in January 2019 and up 9.5 percent (6.0 percent in real terms) over the
same year-ago period.
Table 4. Deposits of non-government resident customers*| INDICATORS | 31 January 2019
(RON mill.) | Jan. 2019/
Dec. 2018
% | Jan. 2019/
Jan. 2018
% |
|---|
| Deposits of non-government resident customers (total)** | 331,427.6 | 0.5 | 9.5 |
|---|
| RON-denominated deposits of residents: | 219,025.5 | -0.6 | 6.2 |
|---|
| - households | 120,897.2 | 0.4 | 7.4 |
|---|
| - other sectors (non-financial corporations and non-monetary financial institutions) | 98,128.3 | -1.8 | 4.7 |
|---|
| Forex-denominated deposits of residents: | 112,402.0 | 2.8 | 16.7 |
|---|
| - households | 80,727.6 | 3.0 | 19.9 |
|---|
| - other sectors (non-financial corporations and non-monetary financial institutions) | 31,674.5 | 2.4 | 9.4 |
|---|
* provisional data
** includes current accounts, demand deposits and all time deposits, irrespective of maturity
RON-denominated household deposits moved up 0.4 percent
to RON 120,897.2 million month on month and up 7.4 percent (3.9 percent in real
terms) year on year.
RON-denominated deposits of other sectors (non-financial corporations and non-monetary financial institutions) decreased 1.8
percent to RON 98,128.3 million. At end-January 2019, RON-denominated deposits of
other sectors climbed by 4.7 percent (1.3 percent in real terms) year on year.
Residents’
forex-denominated deposits advanced 2.8 percent to RON 112,402.0 million when expressed in domestic
currency (when expressed in EUR, forex deposits moved up 1.3 percent to EUR 23,739.6
million). In year-on-year comparison, residents’ forex deposits expressed in
RON advanced 16.7 percent (when expressed in EUR, residents’ forex deposits
rose by 14.8 percent).
At end-January
2019, forex deposits of households increased month on month by 3.0 percent (2.2
percent in real terms) when expressed in domestic currency (when expressed in
EUR, forex deposits of households moved up 1.5 percent). At end-January 2019, households’
forex deposits climbed by 19.9 percent when expressed in domestic currency year
on year (when expressed in EUR, households’ forex deposits expanded by 18.0 percent).
Forex-denominated deposits of other sectors (non-financial corporations and non-monetary financial institutions) increased
by 2.4 percent (1.5 percent in real terms) when expressed in RON (when
expressed in EUR, forex deposits of other sectors went up 0.8 percent). In
year-on-year comparison, forex deposits of other sectors (non-financial
corporations and non-monetary financial institutions) stood 9.4 percent higher when
expressed in RON (when expressed in EUR, forex deposits of residents from other
sectors rose by 7.6 percent).
Note:
In the monetary balance sheets of monetary financial institutions, the accrued interest receivable/payable related to financial assets and liabilities is recorded under remaining assets/remaining liabilities.
Data for preparing monetary indicators are reported by monetary financial institutions in accordance with NBR Regulation No. 4/2014 on reporting statistical data and information to the National Bank of Romania, as subsequently amended and supplemented, Title I, Chapters I and II.
The statistical data are provisional and may be subject to periodic review. Series of indicators (available from January 2007) can be accessed in various formats (html, xls, xml and csv) in the interactive database. Statistical data series including monetary aggregates and non-government loans expressed as a share of GDP can be accessed here.
The next press release on monetary indicators will be issued on 26 March 2019.
Press release archive.