“If loans in Swiss francs were to be converted in lei at the historical exchange rate, this would generate a loss of RON5.7 billion for banks that granted such financing, meaning 0.8% of GDP. If we consider the historical rate plus 10%, the loss is RON5.1 billion, or 0.7% of GDP,” central bank governor Mugur Isarescu said in a press conference Friday.
According to central bank data, loan conversion at the historical rate plus 20%, as debtors requested, would generate a loss of RON4.5 billion (0.6% of GDP), while a 30% addition would generate losses of RON3.9 billion (0.5% of GDP).
“Even though initially we can hope these losses would be transferred to the banks’ capital, it could have a dramatic impact on the economy. Let’s not create illusions,” said Isarescu.