Romania’s Ministry of Finance borrows from banks at record low yield

The Romanian Ministry of Finance borrowed RON 499.98 million (some EUR 112 million) from commercial banks on Monday, December 22, at a record low yield of 1.47%, via a six-month issue of treasury bills at a discount. Eight commercial banks have subscribed offers of RON 1.82 billion (some EUR 408 million) in the issuance, according to local Agerpres. The treasury is currently borrowing cheaper for this kind of securities after it accepted an average yield of 2.55% in September. The Ministry of Finance planned to borrow some EUR 800 million from commercial banks in December, EUR 739 million of which through six auctions of treasury bills and bonds, and some EUR 60 in additional sessions for non-competitive bids, related to bond auctions. Irina Popescu, irina.popescu@romania-insider.com