EUR 840 million put at banks' disposal

Published: 4/2/2009

At its session today, the Council of the Croatian National Bank reviewed the latest monetary and economic movements and basic evaluations from a financial stability report, as well as the effects of measures taken so far and possible monetary policy actions depending on future domestic and global developments.
The Council members were also briefed on the latest decisions adopted by the Governor earlier today, aimed at facilitating the financing of the state's budgetary needs in adverse current circumstances. Thus, the ratio of foreign currency liabilities to liquid foreign currency claims of banks was reduced from 28.5 per cent to 25 per cent, enabling banks to freely dispose of an approximate amount of EUR 840 million. Moreover, last month's swap agreement with banks (1.9 billion kuna liquidity based on foreign exchange deposits) was renewed.
The CNB Council also adopted a Decision on Releasing into Circulation Kuna and Lipa Coins with Mint Year "2009".