September 19, 2018

BNR Governor Mugur Isarescu: Foreign currency loans for home-buyers are not regulate by imposed restrictions

On Friday, the National Bank of Romania (BNR)’s Board of Administration approved a new set of rules concerning loans to individuals. On This occasion, the BNR governor Mugur Isarescu stated that the Cen­tral Bank would not impose restrictions on foreign currency loans for home-buyers and that the initial provisions had merely been “tweaked”, without undergoing too many changes. According to a BNR release, the new regulations are meant to ensure a balance bet­ween new loans in the national currency and loans in foreign currency, which will contribute to consolidating financial stability and to proactively ensuring against the risk of default by debtors without currency risk coverage. The regulations were put up to public debate and also took into consideration proposals from the financial-banking system sent via professional associations, BNR stated.

Source: Nine o’clcok ()

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