Romania's Government prepares draft law on mortgage loans

The Romanian Government will draft a law on mortgage loans by the end of June. It will rule the provision of pre-contractual information, customer creditworthiness assessment, the calculation of the annual percentage rate and advisory services, reports local Mediafax. The Government will draft the project in the context of the strong Swiss Franc appreciation in January. Customers with loans in Swiss Francs protested against banks for not having informed them correctly about the foreign currency risks. The European Parliament and the EU Council adopted a year ago a directive on the banks' obligations to include warnings about the potential impact of exchange rate fluctuations. editor@romania-insider.com