On December 21, 2015, at the end of the parliamentary session, the Senate was notified of President Klaus Iohannis’ request to send back to Parliament for re-examination the bill on the payment of a mortgage loan with the mortgaged property (the bill on giving in payment). The president’s request will be discussed by the Parliament’s special committees in February 2016, when lawmakers resume their activity.
Iohannis saluted the bill, but pointed out that the version adopted by the Parliament might stir up “trouble” instead of supporting those who have mortgage loans, due to its unclear terminology and the lack of correlation with the current legislation.
Early December 2015, central bank deputy governor Bogdan Olteanu said the central bank asked Iohannis to send back the bill on giving in payment to the Parliament or to notify the Constitutional Court, arguing it needs revision from financial, legal and ethical perspective.
Olteanu also said at the time that Romania could take over the model of a similar law in Spain, the only of this type in Europe, which stipulates the voluntary implementation of the giving in payment law by the bank, through an agreement between the two parties of the contract.
At the request of the Romanian Central Bank, the European Central Bank warned the bill might compromise judicial security, cause pay discipline-related problems and also affect foreign investors’ confidence and the stability of the banking system.