This operation means that BNR is purchasing assets eligible for trading from market participants, while sellers commit to buy back those assets at a certain moment and at a price set when the deal was closed.
Ten banks participated in the repo operations and the average interest for repurchase was 11.69 percent. “The banks needed liquidities, given that interest rates on the market are very high,” according to a dealer of Banca Comerciala Romana (BCR), Narcis Noaghea, for NewsIn news agency. The date of payment for these deals is 18 August 2008.
The last such operation was made in August 2007, when BNR placed RON 500 million (€140.2 million) in one-week maturity repo deals.
