Wednesday, April 17th 2019

BNR’s ROBOR index changed

Budget and economic committees in the Romanian parliament’s upper house adopted an amendment on Tuesday expected to change Romania’s National Bank’s ROBOR index starting with May 2nd. The change is also expected to apply to ongoing contracts. Romanian parliament’s lower house should also approve the move. The decision should apply to all credits in order to avoid discrimination, Daniel Zamfir, author of the project and senator of the governing Alliance of Liberals and Democrats for Europe (ALDE), told reporters on Tuesday. Romania’s Interbank Offered Rate (ROBOR) is a daily reference rate, published by BNR. However, Lucian Croitoru, an advisor to BNR governor Mugur Isărescu, told Bloomberg in February that “any discussion on ROBOR would be pointless”. Government officials do not understand how the money market works, Mr. Croitoru claimed.

Joint session in parliament

A joint session of chambers in Romania’s parliament is expected on Wednesday following the request of President Klaus Iohannis. A referendum on the country’s state of law is scheduled to coincide with EU elections on May 26. The referendum was previously approved by both parliament chambers. Centre-right President Klaus Iohannis called for a referendum last month to be held on the left-wing governing Social Democratic Party (PSD) controversial proposed justice reforms, which he opposed. Mr. Iohannis said the ruling PSD was „continuing the assault against the justice system which started when they took over power”.

BNR Open Door Day

Romania’s National Bank (BNR) will open its doors to the public in the capital Bucharest on Wednesday. Visitors are allowed access to the BNR old palace between 11 AM and 7 PM. The visit could include the BNR museum and a collection of golden coins and bars belonging to Romania’s Treasury. The Open Door Day on April 17 is aimed at celebrating BNR’s 139th anniversary. Some BNR branches in the country are also scheduled to celebrate the event through an open door day. Open Door Days provide free access to buildings not normally open to the public. The first Door Open Day took place in France in 1984.
Alexandru Danga, RADOR