Page 177 - Carte Falimentul BIR

financial effort of the Guarantee Fund to pay the deposits of individuals of approx.
ROL 1,900 billion.

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By address no. 434 of May 19 2000, BNR responded to this request, pointing
out that the granting of the ROL 300 billion loan, for 30 days, was not authorized.

In order to support the BIR proposals, its leadership also notified the Supervision
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Division, on May 15 2000, via address no. P/268, asking to join the BIR request.
At this address of BIR, the Director of the Supervision Division, Nicolae Cinteza,
former member of the BIR Census Board ever since its establishment, puts the
following resolution: "Dreams!”, signed and submitted it to his deputy, Adrian
Cosmescu.

On May 19, 2000, through address no. 279, BIR once again addressed the
"Governor" of the National Bank of Romania, Mr. Iota Emil Ghizari, and the
Deputy Governor, Mr. Mihai Bogza, mentioning that:

"The bank is not in a state of insolvency, that such a bank with a comprehensive
network of 110 subsidiaries all over the country, well-equipped and functional,
for which special investment efforts have been made, would not be justified to be
left in a state of bankruptcy and liquidation",

proposing as a solution for avoiding the financial effort of approx. ROL 1,900
billion, the Bank Deposit Guarantee Fund:

"That it would be more appropriate for BIR to be taken over in the administration
of this Fund for a certain period", a mechanism used in other countries, applied
to some banks that were in temporary difficulty.

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The National Bank of Romania replied on May 29 2000, through the address no.
774, under the signature of the same vice-governor Mihai Bogza, that it was
decided to reject the BIR proposal.

It is clear from the above mentioned that the International Bank of Religions has
taken all due diligence to persuade and convince the decision-makers (the BNR
leadership) to support it, in order to avoid the bankruptcy procedure and, in
particular, to avoid Bank Deposit Guarantee Fund payment of approx. ROL 1,900
billion.

If there were no other interests, the management of the BNR, which, according
to Article 2 (2) of the Law no. 101 on The BNR Statute, should ensure the normal
functioning of the banking system, and in Art. 20 and 27 of the same law, as a
lender of last resort, it can grant loans to commercial banks, BNR would have had
the possibility to legally grant the credit requested by BIR, in order to avoid

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