CHF
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Constitutional Court: CHF Conversion Law, Unconstitutional
Constitutional Court ruled Tuesday that the law stipulating the conversion of Swiss franc loans into Romanian lei at historical rates is unconstitutional, as it violates the principle of bicameralism, said Valer Dorneanu, chairman of the Constitutional Court.
ARB: New Regulations To Excessively Boost Lenders’ Costs
The new bills related to the banking system, such as the individual insolvency bill, the debt discharge law or the loan conversion bill, are driving lenders’ costs “beyond affordability leve...
Swiss Franc Deposits Generate 70% Yield During Crisis
Deposits in Swiss francs generated gains of almost 70% for the customers who bet on this currency in 2008, when a franc was traded for an all-time low of 2.2 lei, but bankers say few custome...
Swiss National Bank Makes EUR200M Gift To Franc Loan Holders
The Swiss central bank made an unexpected gift to the 50,000 of holders of Swiss franc loans in Romania, after its announcement that it will do everything in its power to depreciate the fran...
Swiss Franc Strengthening Brings Special Measures At OTP
The rocketing Swiss franc, which climbed beyond the RON4 threshold, pushed OTP Bank to take unprecedented steps to support clients: a one-percentage point interest cut over periods of six mo...
Foreign Market Rout Hurts Romanians With Swiss Franc Loans
Strong emotions for the 50,000 Romanians holding Swiss franc-denominated loans totaling EUR3.2 billion: the leu/franc exchange rate climbed beyond RON4 on Tuesday, marking an over 40% increa...
Past Due Swiss Franc Loans Climb By EUR10 Mln Per Month
Past due amounts on Swiss franc-denominated loans are making loan holders nervous, with the Swiss franc expected to reach parity with the euro this autumn.
Overdue Swiss Franc Loans Double In One Year
With the Swiss franc at an all-time high against the leu, bankers can do nothing but sit and watch the overdue loans rise fast. After the franc has gone up 60% against the leu since the begi...