One in five Romanian debtors use moratorium on bank loan repayment
One in five individual debtors have invoked the moratorium on bank loan repayment that allows them to defer the payment of loan installments until the end of this year.
Romania Insider · Journalist
· Updated · 1 min read
One in five individual debtors have invoked the moratorium on bank loan repayment that allows them to defer the payment of loan installments until the end of this year.
One in seven firms with bank loans have postponed their payments to banks as well, Ziarul Financiar announced.
The deadline for using the facility enacted by the emergency ordinance (OUG) 37/2020 was extended by one month to June 15.
The moratorium (grace period) can be asked by bank debtors, subject to the effects of the coronavirus epidemic, for one to nine months - but only for the remainder of this year. Approximately 317,000 bank debtors, namely 303,000 individual customers and 14,000 companies, have submitted requests to suspend the payment of installments since March 30.
The Parliament amended the OUG extending to 18 months the grace period, among others. The Constitutional Court will decide on May 27 whether the amendments are constitutional or not.
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