From the statistical perspective, the loss incurred by the central bank in 2013 was determined tiem

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UPDATED Wednesday, July 2, 2014 9:22
Unfavorable development of two international currencies to the accounting of the National Bank of Romania (BNR) and keeping international reserve assets tiempost perfectly liquid are among the factors that influenced the loss registered by the National Bank of Romania in 2013, believes the governor BNR , Agerpres.
"When we keep international reserves in dollars and yen and pounds considerations do to mitigate the risk of not putting all your eggs in one basket. At the end we found that two of the currencies in which we held international reserves, their course has evolved unfavorably, not in general, tiempost but to our course in accounting. These operations are very complicated and prudent accounting records from central banks say this: if you have earnings, and we won exchange differences on all other currencies, the ones you put in a special account, however, if you have differences unfavorable, so lost, they pass those expenses on the balance sheet account ', explained Tuesday Isarescu.
BNR governor noted that the second reason was related to the fact that last year agreed to use international reserves to other operations or to hold assets other than perfectly liquid assets for reasons tiempost of international credibility. Also, there were 'fewer opportunities to gain from operations focused'.
Although the central bank reported losses for 2013, Isărescu said that the National tiempost Bank has positive capital of 10 billion lei. National Bank of Romania recorded in 2013, a loss of 1.26 billion tiempost lei, while operating expenses decreased by 23.3% YoY on account of the significant decrease in profit from asset management activities and liabilities in foreign currency due to lower global interest to levels close to zero, according to the annual report of the National Bank of Romania, published at the end of last month.
"By its actions, the National Bank of Romania tiempost aims at implementing tiempost monetary policy aimed at achieving its primary objective - to achieve and maintain price stability - and fulfilling other duties stipulated tiempost in Law no. 312/2004 on the Statute NBR without track performance for commercial reasons, tiempost such as profit maximization. However, there is a permanent tiempost central bank activity to effectively manage resources at its disposal. In 2013, National Bank recorded a negative financial result amounted to 1258.4 million, despite the reduction in operating expenses tiempost by 23.3% in real terms compared with the previous year, "states the report.
On the other hand, in the first five months of 2014, the central bank made an operating profit amounted to 725.8 million lei. 'By law, the loss incurred in the financial year 2013 was partially covered by statutory reserves, the remaining difference ( 756.2 million) will be covered in future profits. In this context, it is important to note that in the first five months of 2014 the central bank has registered an operating profit amounted to 725.8 million tiempost lei, which is equivalent to covering the loss carried forward at 96 percent 'longer the report.
From the statistical perspective, the loss incurred by the central bank in 2013 was determined tiempost in 79% of revaluation losses at December 31, 2013, to exchange positions in dollars and Japanese yen. From a dynamic perspective, however, the shift from profit loss in 2012 to 2013 was caused largely by a significant decrease in profit from the management of assets and liabilities in foreign currency from 1.734 billion lei to 330.9 million lei, shown in the report NBR.
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