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Romanian National Bank - Monetary Indicators - Dec 2010.

At end-December 2010, broad money (M3) amounted to RON 202,763.4 million, up 2.8 percent (2.2 percent in real terms) month on month. In year-on-year comparison, broad money rose 6.9 percent (down 1.0 percent in real terms). Table 1. Monetary aggregates (table)

Table 2. Broad money and its counterpart (table)

At end-December 2010, non-government loans granted by credit institutions edged up 0.7 percent (0.1 percent in real terms) from November 2010 to RON 209,298.0 million. RON-denominated loans increased 0.4 percent (down 0.1 percent in real terms), whereas foreign currency-denominated loans rose by 0.8 percent when expressed in either RON or EUR. At end-December 2010, non-government loans climbed year on year by 4.7 percent (down 3.0 percent in real terms), on the back of the 9.8 percent increase in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans expanded by 8.3 percent) and the 3.0 percent reduction in RON-denominated loans (down 10.1 percent in real terms).

Table 3. Non-government loans (table)

Government credit1 stood 5.7 percent higher in December at RON 61,628.2 million. At end-December 2010, government credit increased 31.7 percent, or 21.9 percent in real terms, from the same year-ago period.

Deposits of non-government resident customers picked up month on month by 3.1 percent, reaching RON 177,438.7 million.

Table 4. Deposits of non-government resident customers (table)

RON-denominated household deposits added 3.5 percent to RON 64,228.2 million. At end-December 2010, household deposits in domestic currency were up 8.5 percent (0.5 percent in real terms) against the same year-ago period.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) increased by 7.2 percent to RON 49,261.3 million. At end-December 2010, RON-denominated corporate deposits rose year on year by 13.3 percent (4.9 percent in real terms).

Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) declined by 0.2 percent to RON 63,949.2 million when expressed in domestic currency (when expressed in EUR, forex deposits dropped 0.2 percent to EUR 14,924.7 million). In year-on-year comparison, residentsCO forex deposits expressed in RON shrank 1.7 percent (when expressed in EUR, residentsCO forex deposits went down 3.0 percent); household deposits in foreign currency grew 4.4 percent when expressed in domestic currency (when expressed in EUR, household forex deposits stood 3.0 percent higher) and forex deposits of corporates (non-financial corporations and non-monetary financial institutions) went down 10.3 percent when expressed in RON (when expressed in EUR, forex deposits of corporate residents decreased by 11.5 percent).

1 includes credit to general government (central government, local government and social security funds) in amount of RON 11,251.7 million (outstanding as at end-December 2010) and marketable securities issued by these institutional sectors, standing at RON 50,376.5 million (outstanding as at end-December 2010).

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Publication:Romanian Central Bank News
Date:Feb 22, 2011
Words:577
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