The Finance Ministry borrowed 2.9 billion lei from banks at an average annual yield of 6.6%

Riana Gegiu

9 November 2026, 14:09

Economy

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The Finance Ministry borrowed 2.901 billion lei from commercial banks on Monday through an issue of benchmark bonds with a residual maturity of 36 months. The operation was conducted at an average annual yield of 6.6%, according to data published by the National Bank of Romania.

The nominal value of the issue was 1.3 billion lei, but the banks submitted bids totaling 3.056 billion lei. The difference between the planned amount and the value of the loan reflects strong demand for the government securities offered by the Finance Ministry.

An additional auction is scheduled for Tuesday, through which the state intends to raise a further 435.2 million lei. The yield for this operation will be the one established during Monday’s auction, namely 6.6% per year.

For November 2026, the Finance Ministry has planned loans of 9 billion lei from commercial banks. This amount may be supplemented by the equivalent of 15% of the nominal value awarded at the benchmark auctions, through additional sessions of noncompetitive bids organized exclusively for benchmark instruments.

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Context: MF continues its borrowing series on the domestic market, amid high demand and oversubscriptions

Before Monday’s issue, the Ministry of Finance had also raised funds through benchmark bonds and additional sessions, including an additional issue of 55 million lei from banks, with a residual maturity of 28 months and an average yield of 6.61% per year, following a benchmark auction. For October, the institution had planned total borrowings of 5.8 billion lei from commercial banks, intended to refinance and finance the budget deficit, while also planning to use the option of increasing the amount by up to 15% in additional non-competitive sessions.

During the preceding period, Finance Minister Alexandru Nazare also noted that investor demand for government securities was far above the amounts announced in an earlier auction (demand of approximately 2.5 billion lei, compared with 500 million lei scheduled), while government bond yields declined on relevant markets, which he linked to the prospect of fiscal-budgetary stability.