Fin Min Teodorovici invites BNR Governor Isarescu for talks, blames central bank for pressures to keep ROBOR at high levels

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Finance Minister Eugen Teodorovici said he would invite National Bank Governor Mugur Isarescu for talks, along with the chairman of the Romanian Banking Association, to discuss the way to enforce the tax on banks’ assets. Teodorovici accuses BNR of ‘aggressive pressure’ on banks not to decrease the ROBOR indices.

“I will invite Mr. Governor to the Finance Ministry. We went to his offices before. I invite him together with the chairman of the Romanian Banking Association, to hear from them some answers. I believe it is high time for the Governor to come and have an open discussion,” the Finance Minister said Sunday evening for Antena 3 TV private broadcaster.

“Since the emergency ordinance has been issued, there are aggressive pressures from BNR on the banks to keep the ROBOR high. ROBOR depends on the central bank,” Teodorovici said.

“On the market there are 25 banks. Ten of them are those who post the level of interest they grant loans to each other. Why calculate the average of quotations and not of the transactions?” he asked.

Teodorovici said the talks will focus on the way to enforce the ordinance, to find the answer to questions such as if the tax should be applied on financial assets which include the state bonds.

The Finance Minister claims the state bonds will be taxed, as this is the Government’s part. “I would have a higher financing cost, but with lower costs of financing on the market,” he said. He added that the highest interest rate is posted so that the average increases the ROBOR.

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