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Share Name | Share Symbol | Market | Type |
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NYSE:NBG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.1609 | 0 | 00:00:00 |
Stress tests conducted on Romania's nine largest foreign banks confirm the institutions are well-capitalized and possess sufficient liquidity buffers, the International Monetary Fund said Wednesday.
Still, the banks - which include the National Bank of Greece (NBG), UniCredit Group (UNCFF) and Societe Generale (SCGLY) - plan to increase minimum capital adequacy ratios at their Romanian subsidiaries to 10% from 8% as a precautionary measure.
The move aims to "help Romania's banking system to weather the current crisis better, support investor confidence and guide the economy to a sustainable long-term growth path," the IMF said.
Romania earlier this month secured a two-year $17.1 billion IMF loan package to help it deal with a decline in capital inflows and to correct fiscal imbalances. It is among many Eastern European countries that have sought IMF aid in the wake of the ongoing financial crisis.
-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629; meena.thiruvengadam@dowjones.com
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