Romania's Ctrl Bk OKs New Credit Risk Limit RegulationPublish date: 20-08-2008
Romania's central bank board approved on Wednesday the new regulation regarding the credit risk limitation for household lending. The new regulation will be published in the Official Gazette at the end of the week or the beginning of the next, sources said
According to the new regulation, the banks will calculate a debt degree for household lending based on revenues that do not exceed by more than 20% the ones declared to the Fiscal Authority in the previous year.
Also, the maximum monthly rate an individual can afford to pay for a loan will not be changed until the loan matures, according to regulation.
For the banks that have their own lending norms, the debt degree will be diminished to 35% from 40% of the client's revenues.
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