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Romanian National Bank - Monetary Indicators - Nov 2010.

At end-November 2010, broad money (M3) amounted to RON 197,287.3 million, up 1.3 percent (0.8 percent in real terms) month on month. In year-on-year comparison, broad money rose 6.3 percent (down 1.3 percent in real terms).

Table 1. Monetary aggregates (table)

Table 2. Broad money and its counterpart (table)

At end-November 2010, non-government loans granted by credit institutions edged up 0.5 percent (0.0 percent in real terms) from October 2010 to RON 207,924.8 million. RON-denominated loans decreased 0.6 percent (down 1.1 percent in real terms), whereas foreign currency-denominated loans rose by 1.2 percent when expressed in RON and by 0.8 percent when expressed in EUR. At end-November 2010, non-government loans climbed year on year by 3.5 percent (down 3.9 percent in real terms), on the back of the 8.2 percent increase in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans expanded by 8.0 percent) and the 3.6 percent reduction in RON-denominated loans (down 10.5 percent in real terms).

Table 3. Non-government loans (table)

Government credit1 stood 8.2 percent higher in November at RON 58,291.8 million. At end-November 2010, government credit increased 23.1 percent, or 14.3 percent in real terms, from the same year-ago period.

Deposits of non-government resident customers picked up month on month by 1.9 percent, reaching RON 172,084.6 million.

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

RON-denominated household deposits added 0.9 percent to RON 62,054.5 million. At end-November 2010, household deposits in domestic currency were up 4.7 percent (down 2.8 percent in real terms) against the same year-ago period.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) increased by 4.5 percent to RON 45,956.3 million. At end-November 2010, RON-denominated corporate deposits rose year on year by 11.6 percent (3.6 percent in real terms).

Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) advanced 1.0 percent to RON 64,073.8 million when expressed in domestic currency (when expressed in EUR, forex deposits added 0.6 percent to EUR 14,955.8 million). In year-on-year comparison, residents' forex deposits expressed in RON moved up 1.5 percent (when expressed in EUR, residents' forex deposits rose by 1.3 percent); household deposits in foreign currency grew 6.6 percent when expressed in domestic currency (when expressed in EUR, household forex deposits stood 6.3 percent higher) and forex deposits of corporates (non-financial corporations and non-monetary financial institutions) dropped 5.6 percent when expressed in RON (when expressed in EUR, forex deposits of corporate residents decreased by 5.8 percent).

1 includes credit to general government (central government, local government and social security funds) in amount of RON 10,753.8 million (outstanding as at end-November 2010) and marketable securities issued by these institutional sectors, standing at RON 47,538.0 million (outstanding as at end-November 2010).

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Publication:Romanian Central Bank News
Date:Feb 22, 2011
Words:583
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