The National Bank of Romania lowers payment system fees
21.07.2005
Starting with 8 August 2005, the National Bank of Romania will lower by 33% the fees charged for settlement of large-value or urgent payments via ReGIS.
One of the benefits of the ReGIS – real time gross settlement electronic system – becoming operational on 8 April 2005 was the National Bank of Romania’s adoption of a new fee policy favouring the participants in the system.
The National Bank of Romania decided to lower gradually the fees charged to participants in the ReGIS system. The decision is based on the favourable effects of payment system upgrading and on the compliance with the cost recovery principle, in line with the international and European standards set by the ECB and the BIS.
On 8 April 2005, when the ReGIS became operational, the level of the fees charged for large-value or urgent payments settlement and processing was cut by 25% against the level of the fees previously charged in the paper-based, large-value funds transfers system.
Starting with 8 August 2005, the National Bank of Romania will lower fees by 33% against the current level, as follows:
- RON -
| ReGIS fees |
Fees charged prior to
8 April 2005 |
Current fees |
Fees as from
8 August 2005 |
| Fee per transaction, of which: |
30.0 |
22.5 |
15.0 |
| - fee charged to the sending participant |
15.0 |
15.0 |
15.0 |
| - fee charged to the beneficiary participant |
15.0 |
7.5 |
0.0 |
Therefore, as from 8 August 2005, the ReGIS will no longer charge any fee to the credit institution, the beneficiary of a payment instruction subject to settlement via the system, in line with international banking practices. The National Bank of Romania will continue to reduce the level of fees charged to participants for services provided via the ReGIS with a view to increasing efficiency of the Romanian payment system, harmonising the fees with those charged by central banks in the EU Member States and cutting financial intermediation costs.