Banca Nationala a României
Also found in: Acronyms.
Banca Naţionalǎ a României
(National Bank of Rumania), the central bank of issue and the main credit and clearing institution of Rumania.
Founded in 1880 as a joint-stock bank, the Banca Naţionalǎ a Romániei was nationalized in December 1946 and made into a state bank. With the introduction of measures to improve economic management and planning during the late 1960’s, the credit system was reorganized and the Banca Naţionalǎ became the central bank for the implementation of monetary, credit, and foreign exchange policy. The bank also issues currency and regulates its circulation within the country.
The Banca Naţionalǎ a României is charged with such tasks as meeting the cash requirements of the state budget, controlling the use of wage funds, concentrating all unused monetary balances held by government offices and by state and cooperative enterprises, and clearing accounts among enterprises and organizations. The bank offers short-term credits to all branches of the economy except agriculture and capital construction, conducts foreign currency operations, and supervises the clearing of international accounts. The bank had 139 branches in Rumania in 1972, with its main offices in Bucharest.
I. G. MAEVSKAIA