Romania's National Bank offers possible solutions for Swiss Franc crisis

Local banks may present their customers with loans in Swiss Francs solutions that keep the monthly rate expressed in Romanian currency lei (RON) to a level close to that in December 2014. They may also offer clients the option to convert loans to RON, grant a discount or temporary reduce the interest rate. The banks that gave loans in Swiss Francs met on Thursday, January 29, with the executive management of the Romanian National Bank (BNR) and the Romanian Banking Association (ARB). They sought solutions to reduce the debt of those who were affected by the recent appreciation of the Swiss Franc, according to a BNR press release. "Banks have a number of optional solutions consistent with the principle of burden - sharing, to solve these individual problems" reads the BNR release. The BNR said that tailored solutions are preferable to general ones, and that inadequate measures can lead to systemic risks. editor@romania-insider.com