Romania's finance minister claims BNR, ECB endorsed revised “greed tax”

Romania’s Government communicated with both Romania's National Bank (BNR) and the European Central Bank (ECB) about the revised “greed tax” on local banks' assets.

BNR has already sent an opinion, finance minister Eugen Teodorovici stated. It remains unclear whether BNR’s opinion was positive or not, but Teodorovici implied that no further revisions are likely.

Unofficial sources quoted by Hotnews.ro say that ECB has sent no other opinion than the negative one issued for the initial text of the “greed tax”. However, Romania’s Government deferred its March 27 meeting for March 28, possibly in connection to tensions between Government’s members on certain provisions on the energy sector.

"BNR has already issued an opinion on the so-called “greed tax”; the relevant provisions of the emergency ordinance [that includes amendments to the initial “greed tax” ordinance OUG 114/2018] have already been agreed with BNR, and they were sent to the European Central Bank for an opinion as well," Teodorovici stated, quoted by Economica.net.

He stressed that under the new provisions, the interest rate paid by households on their mortgage and consumer loans would decrease. However, Economica.net revealed data illustrating that in February, the interest rate calculated under the formula proposed by the Government as more favorable to households was higher than that calculated under existing regulations.

(Photo source: Gov.ro)