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Central bank governor Isarescu ask banks to more active on social media, slams mass media

The governor of the National Romanian Bank (BNR), Mugur Isarescu, has advised banks to have a better communication with the population through social media, while attacking the mass media „for looking for sensational”.

One of the first advice for the banks is to better explain the Robor Index, saying it is the banks’ job not BNR’s.

In the past, the mass media used to report daily about the exchange rate. Not it is about ROBOR, which, I repeat, is your product, of the banking market, not of BNR. But it became our problem. You need to explain about ROBOR, not us. We calculate the index, but based on the data provided by you”, Isarescu told those over 150 bankers attending the „Banking Compliance Summit” at the Romanian Banking Institute on Wednesday.

The central bank governor also stated that bankers must seriously talk about bank-related issues, without „the blah-blahs that dominate the mass media.

Don’t allow the blah-blahs that dominate the media. We don’t accuse the mass media here, for it is looking for the sensational, and this is not just in Romania, but everywhere in the world (…) Social media networks are playing an extremely important role and if you don’t know to use them into your favour, you’re lost from the start,” Isarescu said, as quoted by Hotnews.ro.

The BNR governor also warned bankers that the humankind is entering a regulation period, where the bankers’ honour will mostly matter.

New aspects come up-honesty, honour, rebuilding the banks’ confidence and reputation. Not only in Romania, but worldwide, as the reputation of the banking systems remains low. Mistakes have been done indeed. We are not in our glory days, but in a time of setback of the reputation and trust,” Isarescu pointed out.

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