Banca Naţională a României

At end-July 2014, broad money (M3) amounted to RON 240,739.5 million, up 0.4 percent month on month. In year-on-year comparison, broad money rose 6.6 percent (5.6 percent in real terms).

*provisional data
**current accounts, demand deposits

*provisional data
**after deducting foreign liabilities from foreign assets.
Foreign assets include: loans granted to non-residents; deposits with non-residents; marketable securities (issued by non-residents); shares and other equity with non-residents; monetary gold.
Foreign liabilities include funds raised from non-residents: deposits, marketable securities issued on external markets. The IMF’s SDR allocations are not included in foreign liabilities.
***after deducting domestic liabilities (except M3 components) from domestic assets.
Domestic assets include: loans granted to residents; marketable securities (issued by residents); shares and other equity with residents.
Domestic liabilities (except M3 components) include funds raised from residents: deposits with an agreed maturity of over two years (including deposits redeemable at a period of notice of over three months); marketable securities with a maturity of over two years issued on the domestic market; capital and reserves.

At end-July 2014, non-government loans granted by credit institutions contracted 0.7 percent (down 0.7 percent in real terms) from June 2014 to RON 213,841.2 million. RON-denominated loans increased by 0.7 percent (0.8 percent in real terms), whereas foreign currency-denominated loans fell by 1.7 percent when expressed in RON and by 2.5 percent when expressed in EUR. At end-July 2014, non-government loans decreased by 3.4 percent (down 4.3 percent in real terms) year on year, on the back of the 8.6 percent increase in RON-denominated loans (7.6 percent in real terms) and the 10.8 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 11.0 percent).

*provisional data

Government credit¹ contracted by 1.8 percent in July 2014 to RON 79,051.9 million. At end- July 2014, government credit increased by 8.9 percent (7.9 percent in real terms) from the same year-ago period.

Deposits of non-government resident customers edged up 0.1 percent month on month to RON 214,311.7 million in July 2014.

*provisional data
**includes current accounts, demand deposits and all time deposits, irrespective of maturity

RON-denominated household deposits added 0.3 percent to RON 81,632.4 million. At end-July 2014, household deposits in domestic currency increased by 6.3 percent (5.3 percent in real terms) against end-July 2013.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) decreased by 1.5 percent to RON 57,691.7 million. At end-July 2014, RON-denominated corporate deposits climbed by 13.1 percent (12.1 percent in real terms) year on year.

Forex-denominated deposits of resident households and corporates (non-financial corporations and non-monetary financial institutions) went up 1.1 percent to RON 74,987.6 million when expressed in domestic currency (when expressed in EUR, forex deposits increased by 0.3 percent to EUR 16,970.1 million). In year-on-year comparison, residents’ forex deposits expressed in RON advanced 3.3 percent (when expressed in EUR, residents’ forex deposits stood 3.0 percent higher); household forex deposits grew by 2.5 percent when expressed in domestic currency (when expressed in EUR, household forex deposits increased by 2.1 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) rose by 5.1 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities expanded by 4.7 percent).

¹ includes credit to general government (central government, local government and social security funds) in amount of RON 9,461.9 million and marketable securities issued by these institutional sectors running at RON 69,590.0 million (outstanding as at end-July 2014).