Banks said case-by-case approaches for both individual and corporate customers affected by the pandemic would be a fairer and more efficient approach.
Universal moratoriums from authorities, the adoption of general solutions with no impact studies don’t fix the diversity of challenges bank customers face and could seriously affect the banking system’s liquidity.
Romania’s government last week adopted an emergency decree allowing individuals and companies to postpone their loan repayments for up to nine months but no later than the end of the year.
Finance minister Florin Citu said the suspension of loan repayments may be requested by all debtors whose revenues have been directly or indirectly affected by the Covid-19 pandemic.
The minister said loan interest would be rescheduled throughout the duration of the loan to avoid immediate pressure once repayment is resumed.
On the other hand, associations protecting consumers’ interests in relation with banks criticized the decree as favoring the banking system only and saddling private individuals in financial distress with additional interest.