Central bank

The commercial banks operating in Romania are currently implementing the new disclosure and data release requirements of the third pillar of the Basel Agreements; the process began throughout Europe last year, says Cristian Stefan, head of the Regulation and Licensing Department of the National Bank of Romania (BNR, the central bank).

Expectations that the European Central Bank will ease its policy toward Athens slightly after the prime minister’s meetings with top European officials, thus allowing for more cash to Greece, sent local stocks higher on Monday.

The recent tug of war between President Recep Tayyip Erdo?an and Central Bank Governor Erdem Ba?ç? over Turkey's monetary policy has inflamed debate on the independence of the Bank.

Turkey's leading indicators did not signal any economic recovery in the first quarter as high food prices worsened the inflation outlook, the Central Bank said March 18.

Lawmakers in Bulgaria gave on Wednesday the green light to changes to the Bank Insolvency Act allowing for a temporary assignee to manage the assets of troubled Corporate Commercial Bank (Corpbank or KTB).

Prior to the amendments, such a development contravened the legislation, which had required that a court decides to open insolvency proceedings first.

Turkey?s Central Bank left interest rates on hold on March 17 as the lira?s slide to record lows risked stoking inflation, resisting pressure from political circles to cut rates ahead of a June election.

Governor Erdem Ba?ç? and economy tsar Ali Babacan paid a visit to President Recep Tayyip Erdo?an and his top economic advisers on March 11 to discuss the supposedly-independent Central Bank?s monetary policy.

 Turkey needs growth higher than its current rate of around 3 percent if it is to avoid the "middle income trap," and will need structural reforms to achieve it, the country's finance minister said on March 14.

The European Central Bank increased the maximum Emergency Liquidity Assistance that Greek banks can get from their national central bank by 600 million euros ($637 million), according to two people familiar with the decision.

BELGRADE - The Executive Board of the National Bank of Serbia (NBS) has decided to reduce the key policy rate by 0.5 percent, and the key policy rate shall thus total 7.5 percent as of Thursday, the NBS press service released on Thursday.