ECB prolongs support for non-eurozone central banks, including Romania's BNR

The European Central Bank (ECB) decided to extend the validity of the temporary REPO lines with the central banks of several countries, including Romania, as well as the SWAP line for Poland, in order to provide the financial institutions with the necessary liquidity in the euro currency, in the context of the geopolitical tensions generated by Russia's invasion of Ukraine.

The volume of funding and operational parameters in the individual agreements will remain unchanged.

The SWAP and REPO lines due to expire on January 15, 2023, will be extended to January 15, 2024.

Through the REPO line, the National Bank of Romania (BNR) can borrow up to EUR 4.5 bln from the ECB in exchange for appropriate guarantees.

These bilateral SWAP and REPO lines were established as early as 2020 in order to provide financial institutions with the necessary liquidity in the euro currency, through the central banks of the non-eurozone, in the context of the pandemic and the aggravation of geopolitical tensions generated by Russia's invasion of Ukraine.

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