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BANCI

Emporiki Bank Romania will change its core banking system to Flexcube

Romania is changing its core banking system to Flexcube, by the beginning of July, following Crédit Agricole decision to increasingly standardizing the core system of international branches, said the bank in a press release. Crédit Agricole, the leading French bank and one of the world largest detalii

BANCI

National Bank of Romania (BNR) to keep the key interest rate at 6.25%

The Board of the National Bank of Romania (BNR) might decide Wednesday to keep the key interest rate at 6.25 pc a year, according to opinions voiced by the members of the Romanian Association of Financial and Banking Analysts (AAFBR) in an internal poll, reads a press release. Forecasts for the end of the year oscillate between 6 pc and 6.5 pc, against the interval 5.5 – 6.75 pc estimated in May. The analysts that answered the poll expect the key interest to decrease to 5.75 pc at the end of 2012 (estimations between 4.5 pc and 7 pc). The same expectation about a declining key interest rate was revealed by previous polls. All participants in the poll believe that the cash reserve ratio (CRR) might stand at 15 pc for RON and 20 pc for those in foreign exchange (same as now). Most detalii

BANCI

Greek foreign claims on CEE

In recent weeks contagion fears from Greece to Eastern Europe have resurfaced. There are three main contagion channels which could be looked at: First, contagion via reduced bank lending from Greek parent banks, second, contagion via reduced exports to Greece and third, contagion via foreign detalii

BANCI

Measures for global systemically important banks agreed by the Group of Governors and Heads of Supervision

At its 25 June 2011 meeting, the Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BCBS), agreed on a consultative document setting out measures for global systemically important banks (G-SIBs). These measures include the methodology for assessing systemic importance, the additional required capital and the arrangements by which they will be phased in. These measures will strengthen the resilience of G-SIBs and create strong incentives for them to reduce their systemic importance over time. The GHOS is submitting this consultative document to the Financial Stability Board (FSB), which is coordinating the overall set of measures to reduce the moral hazard posed by global systemically important financial institutions. detalii

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