The Central Bank approved, Wednesday, August 20, the final form of the new loan directives, after the Administration Council discussed the modifications suggested by the commercial banks regarding the new credit normative.

The new conditions will be stricter, restricting the indebt rate of the population. BNR renounced the “stress-testing” procedure, stipulated in the initial project, but the calculation of loan's indebt rate will be based on incomes with at most 20% over the incomes declared to the Revenue Service, in the previous year, and not based on salary certificate, like in the present.

Moreover, the maximum annuity which a person can engage to pay monthly will not be modified until the final payment. In bankers opinion, this is very hard to achieve because the interest rate is variable.

Also, the banks will be obliged to calculate the indebt rate differentiated on customer categories, loan destination, credit type, respective in national or foreign currency, with fixed or variable interest.

The new directives approved by the Romanian Central Bank will be published in the Official Monitor at the latest, in the beginning of the next week.