Banca Naţională a României

At end-September 2006, broad money (M2) totalled RON 99,346 million, up 1.1 percent (1.0 percent in real terms) month over month. In year-on-year comparison, broad money rose 23.9 percent, or 17.5 percent in real terms.

Net foreign assets dropped 2.9 percent to RON 42,742 million, as a result of "Convertible currencies" declining 3.2 percent and "Gold" decreasing 0.9 percent following gold stock revaluation.

Net domestic assets added 4.3 percent to RON 56,604 million against the background of the 4.1 percent rise in domestic credit to RON 73,759 million.

In September, non-government credit moved up 3.8 percent (3.75 percent in real terms) over August to RON 85,289 million. RON-denominated loans increased by 3.9 percent, or 3.8 percent in real terms, while foreign currency-denominated loans advanced 3.7 percent when expressed in RON and 3.6 percent when expressed in EUR.

At end-September 2006, non-government credit jumped 55.0 percent (47.0 percent in real terms) year on year on the back of the 100.9 percent upsurge in RON-denominated loans (90.5 percent in real terms) and the 23.2 percent growth of foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans expanded by 24.1 percent).

Government credit, net, posted a credit balance of RON 11,530 million compared to RON 11,320 million in August 2006, due mainly to the increase in deposits of the General Account of Treasury.

Narrow money (M1) went up 2.1 percent to RON 30,407 million, on account of the 3.3 percent rise in currency outside banks and the 1.1 percent uplift in demand deposits.

Quasi-money added 0.6 percent to RON 68,939 million. Household savings in domestic currency inched up 0.4 percent to RON 18,797 million, accounting for 18.9 percent of broad money. In year-on-year comparison, household savings climbed 16.2 percent, or 10.2 percent in real terms.

Corporate deposits in domestic currency stepped up 3.5 percent to RON 21,430 million. Time deposits grew 5.3 percent (to RON 17,266 million), restricted deposits edged up 0.5 percent (to RON 2,094 million), while certificates of deposit fell by 7.0 percent (to RON 2,070 million). At end-September 2006, corporate deposits in domestic currency rose year on year 23.0 percent, or 16.6 percent in real terms.

Deposits in foreign currency of residents (natural and legal entities) saw a decrease of 1.4 percent to RON 28,712 million when expressed in domestic currency and a decline of 1.5 percent to EUR 8,125 million when expressed in euro. In year-on-year comparison, residents' forex deposits expressed in euro advanced by 13.0 percent, household deposits in foreign currency climbed 36.0 percent, whilst corporate deposits in foreign currency shrank 2.2 percent.

Government securities held with non-banks went down 0.3 percent to RON 3,193 million. At end-September 2006, non-banks' government securities dropped 19.1 percent as compared with the same year-ago period.