Press Release: European Commission and IMF welcome the reaffirmed support of parent banks to their Romanian affiliates

n a meeting of the European Bank Coordination Initiative held on 22 July 2010 in Brussels, the parent banks of the nine largest foreign-owned banks operating in Romania reaffirmed the support to their Romanian affiliates.

These commitments, along with the multilateral financial assistance package, are helping Romania consolidate investor confidence and return the economy to a sustainable growth path. Participants agreed that the strengthening of Romania's external position allows for a degree of flexibility concerning the exposure commitments to 95% compared to end-March 2009.