Romanians’ access to loans to be limited! Central Bank’s decision will be in place by September

The National Bank of Romania (BNR) will limit the indebtedness-to-income rate of the individuals, as a new rule is currently discussed by banking sector supervisors, and a decision could be announced in September, according to central bank’s governor Mugur Isarescu.

During the last year, there has been a lot of debate in Romania about limiting the degree of indebtedness for the population within the central bank.

A new rule project is currently discussed within the central bank.

When asked by journalists when such a measure could be implemented, Isarescu answered: “Around September. We have already discussed with the banks. We don’t want to strangle lending”, according to Profit.ro.

BNR has limited the consumer credit in 2011 as many Romanians were severely hit by financial crisis and nonperforming loans (NPL) rate was rising.

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The NPL rate has declined to 6 percent this year, according to the latest official data.