BNR: Quarterly reference index for consumer loans down to 2.41pct per annum

The consumer credit reference index (IRCC), regulated by the Government's Emergency Ordinance No. 19/2019, stands at 2.41 pct per annum, calculated as the arithmetic average of the daily interest rates of interbank transactions in Q1 2020, down from 2.44 ppa three months ago, according to data announced on Monday by the National Bank of Romania (BNR).

On May 2, 2019 the National Bank of Romania published for the first time the quarterly consumer loan reference index, regulated by Art. II and III of the Government Emergency Ordinance No. 19/2019; initially the index was 2.36 percent per annum. The index was calculated as an arithmetic average of the daily interest rates of the interbank transactions in the fourth quarter of 2018.

According to the data published by the National Bank of Romania, the three-month Romanian Interbank Offer Rate (ROBOR), against which the cost of personal loans stated in lei with a floating interest rate is calculated, stood on Tuesday at 2.20 percent per annum, while the six-month ROBOR remained at 3.24 pct.

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