Update: Lower chamber postpones vote on CHF conversion to RON at historical rates, 50 pc indebtedness level – eliminated

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The Chamber of Deputies was to vote Tuesday afternoon on the conversion of loans from CHF to RON bill, but the plenum sitting was postponed due to lack of quorum. The final vote will take place next week, realitatea.net reports.

In the morning sitting, the Chamber of Deputies has eliminated on Tuesday the 50% level of indebtedness for eligibility for conversion of loans in Swiss Francs to RON. The MPs adopted the bill by articles.

They adopted an amendment according to which the natural persons benefit of this law if they are consumers of loans with total value not exceeding CHF 250,000 when signing the loan contracts and have eliminated the threshold of indebtedness of 50% of incomes.

The amendment was proposed by the Law Committee Vice-Chairman Ciprian Nica and was supported by all MPs present in Parliament.

On Monday, the Chamber of Deputies Law and Budget Committees decided that banks are required to convert to RON the loans not exceeding CHF 250,000 at the contracting date. Nevertheless, it was decided that not all citizens who took loans in Swiss Francs to benefit from this law, but only those who have an indebtedness ratio of 50% of the net income at the time of analysing of the conversion request, a provision which was eliminated by the Chamber of Deputies’ plenum on Tuesday.

The two committees gave their report to adopt the draft law on conversion loans in Swiss Francs with a few amendments.

According to other amendments, the banks have to convert in RON the remaining balances of the loans in CHF for natural persons. The conversion is to be made at the BNR exchange rate at the time when it was concluded and will be achieved through an addendum agreed upon by the consumer.

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