ECB and Romanian central bank set up repo swap line
Romanian currency has fallen in recent months as central bank lowers rates in response to pandemic
The European Central Bank has set up a euro repo line with Romania’s central bank worth a maximum of €4.5 billion ($5.1 billion), it announced on June 5. The ECB said the line will remain in place at least until December 31, but will be extended if needed.
The National Bank of Romania said that it will be able to use the repo line to borrow euros “in exchange for high-quality euro-denominated collateral”. It said that the maximum maturity of each use of the line would be three months.
The NBR
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