“It’s my personal opinion that limiting foreign lending, if such a measure is necessary in the first place, should not be made via administrative measures. The market must be allowed to function right,” said Radu Ghetea, adding his remarks don’t reflect the association’s stance.
Ghetea commented on a central bank draft that introduces a series of restrictive measures aimed at discouraging foreign currency lending for people who are paid in lei.
According to the draft document, banks may have to reduce the maturity of consumer loans to five years from 20 currently, while extending minimum guarantees to 133% of the loan’s value, people familiar with the matter told MEDIAFAX earlier Friday.
Moreover, banks will not be able to provide mortgage loans unless clients pay at least 30% upfront for financing in euros and 20% minimum for leu-denominated loans, the document noted.
For mortgage loans in other foreign currency, the minimum down payment will be set at 40% of the loan value.