All But One Bank Sent New Loan Norms To Romanian Ctrl Bk

Publish date: 08-10-2008
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All Romanian banks sent to the central bank the new lending norms for natural persons by the deadline on Monday, except for a small bank with a market share below 1%, the central bank representatives said Tuesday.

"I have already written a letter to that bank, and starting from today (Tuesday - e.n.) the institution will grant loans just by taking into account a maximum indebtness level of 35%, as the new regulation says. Perhaps that was their wish", central bank's Supervisory Direction head Nicolae Cinteza told Mediafax.

He also mentioned that some of the norms could be approved by the central bank in the very next period.

Banks had to amend their loan norms in maximum 45 days from the date of publishing the new regulations regarding loans for natural persons.

According to the new regulations, banks will compute the indebtedness level based on maximum 20% higher incomes than those declared by the respective person at the Revenue Agency for the previous year.

The loans will also be given based on categories of clients, credit type, interest type, taking into account the foreign currency risk, interest rate risk, and the possibility to hike the credit costs.

Mediafax

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