Romanian opposition party writes bill to defer bank loan payments by yearend

Romania’s Social Democratic Party (PSD) has drafted and submitted to the Parliament a bill under which bank debtors - individuals and small firms - will have their installments deferred for the remaining part of the year, local Economica.net reported.

In a response to this initiative, one of the two major bank associations in Romania (CPBR) has neither rejected nor accepted the proposal while implying that such a move would hurt “other sectors of activity” and the local banks’ capacity of providing loans.

CPBR claims that banks already negotiate with the clients and they ask to be consulted before any measure in this sector is taken, otherwise, they risk not having the expected effects, and might even hurt the clients and economy.”

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