Monetary indicators – June 2017

National Bank of Romania has published the monetary indicators. At end-June 2017, broad money (M3) amounted to RON 321,759.6 million, up 0.1 percent (0.1 percent in real terms) month on month. In year-on-year comparison, broad money rose 9.0 percent (8.1 percent in real terms).

At end-June 2017, non-government loans granted by credit institutions went up 0.9 percent (0.8 percent in real terms) from May 2017 to RON 226,777.9 million. RON-denominated loans expanded 2.5 percent (2.5 percent in real terms), whereas foreign currency-denominated loans shrank 1.5 percent when expressed in RON and 1.1 percent when expressed in EUR. At end-June 2017, non-government loans went up 4.2 percent (3.3 percent in real terms) year on year, on the back of the 14.7 percent increase in RON-denominated loans (13.8 percent in real terms) and the 8.5 percent decline in foreign currency-denominated loans expressed in RON (when expressed in EUR, forex loans dropped 9.1 percent).

RON-denominated household deposits increased by 0.8 percent to RON 106,972.7 million. At end-June 2017, household deposits in domestic currency rose by 9.8 percent (8.8 percent in real terms) against end-June 2016.

RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) moved down 1.7 percent to RON 82,975.4 million. At end-June 2017, RON-denominated corporate deposits climbed by 6.9 percent (6.0 percent in real terms) year on year.

Forex-denominated deposits of resident households and companies (non-financial corporations and non-monetary financial institutions) inched down RON 3.0 million to RON 88,968.8 million when expressed in domestic currency (when expressed in EUR, forex deposits added 0.4 percent to EUR 19,536.8 million). In year-on-year comparison, residents’ forex deposits expressed in RON advanced 5.5 percent (when expressed in EUR, residents’ forex deposits rose by 4.7 percent); household forex deposits climbed by 8.2 percent when expressed in domestic currency (when expressed in EUR, household forex deposits expanded by 7.4 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) edged down 0.1 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities stood 0.8 percent lower).

In the monetary balance sheets of monetary financial institutions, the accrued interest receivable/payable related to financial assets and liabilities is recorded under remaining assets/remaining liabilities.

Data for preparing monetary indicators are reported by monetary financial institutions in accordance with NBR Regulation No. 4/2014 on reporting statistical data and information to the National Bank of Romania, as subsequently amended and supplemented, Title I, Chapters I and II.