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FinMin Teodorovici: amendments to Ordinance 114 based on BNR's data, endorsed by BNR
The latest amendments to the Ordinance 114 are based largely on the data submitted by the National Bank of Romania (BNR), an institution that has greenlighted the document in its current form, Finance Minister Eugen Teodorovici said Thursday after a meeting of the Economic and Social Council (CES).
"I can tell you clearly that today, ROBOR is at over 3pct, 3.23pct the 3M ROBOR. In transactions, the new benchmark is 2.60pct, a negative difference. We have very much based on what the National Bank of Romania sent to us as elements, data, arguments, justifications; it is the same document that the National Bank accepted, and I remind you that the ordinance, as it is today, is also endorsed by the bank. The rest is attempts by some to reignite a discussion that should not exist," said Teodorovici.
Asked if the ROBOR Romanian Interbank Offer Rate calculations made by BNR should be made public, Teodorovici said "there is information being discussed and analysed by a working group" and that "they cannot go out publicly."
Teodorovici added that there is currently no estimate of the number of people who will benefit from the new benchmark, calculated for future loans.
Interest on loans in the national currency will consist of a benchmark calculated exclusively on interbank transactions for a certain period to which the lender may add a certain fixed margin over the entire period of the contract, reads a draft emergency ordinance amending Ordinance 114/2018.