Through BNR Circular 16/2026, published in Official Gazette no. 508 of June 22, 2026, the level of remuneration granted by the National Bank of Romania for euro reserves that credit institutions are obliged to constitute is established.
What does it stipulate?
The normative act establishes a single technical parameter: the annual interest rate paid by the National Bank of Romania (BNR) for minimum reserve requirements (MRR) constituted in euro is set at 0.17% per year. This rate applies retroactively, for the application period between May 24 and June 23, 2026.
Minimum reserve requirements are funds that credit institutions must keep in accounts opened at the central bank, as a monetary policy instrument. BNR remunerates these reserves, and the present circular updates the level of this remuneration exclusively for the euro component of the reserves.
The change in the interest rate directly influences the income that credit institutions obtain from these immobilized funds. The decision reflects BNR’s periodic adjustments based on monetary market conditions and the European Central Bank’s policy, being an operational and recurrent measure.
To whom does it apply?
The Circular applies exclusively to credit institutions (commercial banks, cooperative credit organizations, etc.) operating in Romania and having the legal obligation to constitute minimum reserve requirements at the National Bank of Romania. The provisions do not target companies in the non-financial sector or other types of legal entities.
What should you do?
- Update interest income calculations for minimum reserve requirements in euro for the application period May 24 – June 23, 2026, using the new rate of 0.17% per year.
- Verify accounting records to correctly reflect the remuneration calculated according to the new rate.
- Inform relevant departments (Treasury, Financial-Accounting) about this change to ensure the accuracy of financial reports and projections.
Source: Official Gazette, Part I, no. 508 of June 22, 2026.
Note: This material is strictly for informational purposes and does not constitute legal, fiscal, or business advice. As the interpretation and application of legal provisions may vary significantly depending on the specific circumstances of each entity, we recommend seeking specialized legal assistance before adopting any operational decisions based on these changes.