At end-February 2002, broad money (M2) came in at ROL 267,089 billion, up 2.8 percent in nominal terms (1.6 percent in real terms) against the previous month. The increase in broad money resulted from the growth in both of its counterparts.
Net foreign assets rose by 1.6 percent to ROL 169.250 billion, due to the 1.9 percent climb under "Convertible currencies" and the broadly unchanged "Gold" component. The "Convertible currencies" went up on the back of the net foreign exchange purchases by the central bank from the forex market.
Net domestic assets moved ahead 4.9 percent to ROL 97,839 billion. Domestic credit added 2.4 percent to ROL 148,751 billion, while the negative balance under other assets, net narrowed by 2 percent.
In February, non-government credit moved up 2.1 percent (1.4 percent in real terms in the first two months of the year taken together) to reach ROL 124,164 billion on the back of increases in both ROL and foreign-exchange-denominated loans, by 2.3 percent and 0.7 percent respectively. When expressed in ROL, the latter stepped up 2 percent. Government credit, net was up 4 percent (to ROL 24,587 billion) as a result of the following: (i) the decline in deposits of the General Account of Treasury with the National Bank of Romania; (ii) the fall in foreign-exchange denominated deposits of the Ministry of Public Finance with the National Bank of Romania (iii) the redemption of government securities falling due.
Narrow money (M1) added 7.3 percent to ROL 54,482 billion, as a result of the 8 percent rise in currency outside banks (to ROL 32,411 billion) and the 6.4 percent growth in demand deposits (to ROL 22,071 billion).
Quasi-money stood 1.6 percent higher at ROL 212,607 billion. Household savings climbed 3.4 percent to ROL 67,766 billion, accounting for 25.4 percent of broad money against 25.2 percent at end-January, while government securities outstanding with households expanded 5.9 percent to ROL 16,850 billion. Foreign-exchange deposits of households (when expressed in USD) crept down 2 percent, while the volume of foreign-exchange-denominated government securities outstanding with households was 2.5 percent lower (equivalent to USD 118 million).
Corporate deposits in ROL moved up 8.1 percent to ROL 29,089 billion. Time deposits picked up 10 percent to ROL 17,461 billion, restricted deposits advanced 3.4 percent to ROL 5,672 billion, and the certificates of deposit stepped up 7.2 percent to ROL 5,957 billion.
Forex deposits of residents (including households) expressed in ROL inched down 0.8 percent to ROL 115,752 billion (when expressed in USD, forex deposits dipped by 2.1 percent to USD 3,551 million).
At end-February, non-banks held government securities worth ROL 37,058 billion (up 6.6 percent against January). At end-February, foreign-exchange-denominated government securities outstanding with non-banks reached the equivalent of USD 172 million, up 0.8 percent versus January.