The National Bank of Romania (NBR) adopted the following measures:
• monetary policy measures: (1) to cut the monetary policy rate by 0.50 percentage points, from 2.5 percent to 2.0 percent; (2) to narrow the symmetrical corridor defined by interest rates on standing facilities around the monetary policy rate to ±0.5 percentage points from ±1.0 percentage points; (3) to provide liquidity to credit institutions; (4) to purchase leu-denominated government securities on the secondary market to ensure the smooth financing of real economy and the public sector.
• measures to increase the flexibility of the legislative framework so that banks and NBFIs could help individuals and companies with outstanding loans.
• measures regarding the bank resolution: to postpone the deadline for collecting the annual contributions to the bank resolution fund for 2020 by 3 months, with the possibility of extension to up to 6 months; to delay the reporting deadlines of some information on resolution planning.
• operational measures: to ensure the smooth functioning of payment and settlement systems underlying payments in the domestic currency.

The mitigation of the negative effects generated by the coronavirus (COVID-19) epidemic on households and Romanian companies.

National Bank of Romania

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