Medium and long-term deposits of non-residents - which largelyreflect financing attracted by banks on the Romanian market fromforeign shareholders - hit a new all-time high, of 6.77 billioneuros in August, with bankers now seeking to balance out theirbalance sheets. The previous peak had been reached in July - 6.48billion euros, according to data from the NBR (National Bank ofRomania). "This is a natural trend, which will continue. Financingis changing as a result of the minimum reserve requirements beingcut to zero for liabilities with over two-year maturities," saysLucian Anghel, chief economist of the BCR (Banca ComercialaRomana). Banks now have to attract longer-term financing, closer tothe maturities of the loans granted. In previous years bankerspreferred to borrow on short term, in order to pay lower interests.In spring, when liquidity plummeted on international markets, thosethat had short-term financing taken out had great difficultiesrenewing the loans, and costs rose.
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