Fitch: Conversion law will not have immediate effects on banks in Romania

The possible adoption of the Law on the conversion of Swiss francs credits into lei will not have immediate effects on banks in Romania, according to Fitch Ratings agency, Reuters writes.

The possible adoption by Parliament of the law allowing people to exchange into lei credits in Swiss francs at rates valid at the moment the loan was contracted, will not have immediate impact on banks in Romania, Fitch Ratings announced on Thursday.

Credits in Swiss francs (CHF) represent a negligible share of loans at most banks we evaluate, and in the case of banking institutions which have portfolios in francs, sufficient reserves were preserved to absorb potential conversion losses, Fitch points out. 

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