FinMin on GEO 114: Ongoing bank loans will not benefit of the new Robor index recalculation

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After Finance minister had said four days ago that the Government will the Emergency Ordinance 114 through a new emergency ordinance and one of the main changes will be the setting of ROBOR according to interbank and daily transactions in the previous quarter, Eugen Teodorovici has announced today that not all installments for the bank loans in RON will decrease through Robor index recalculation. The minister said the measure will not be enforced retroactively, but only to the new loans. For those who already have bank credits, the minister suggested they should re-negotiate a refinancing with the bank.

Practically, those who have credits in Ron will file a refinancing request to the same bank or other banks and then, based on the new calculation formula, if it is more attractive, the Romanians will be able to choose among more banks, it will be a competition among banks and a cheaper financing will be granted for the market share will be affected one way or another”, FinMin Teodorovici said.

The economic adviser of the prime minister, Darius Vâlcov, used to state at the end of December last year that the Government vowed that mortgages of those who have debts to banks should drop by half of their current value. He claimed that, under these circumstances, banks will not have to pay the so-called „tax on greed” anymore.

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