Romania's Senate approves law on giving in payment

The Romanian senators decided yesterday that the new law that enforces giving in payment as a way to close mortgage loans should also apply to the loans granted through the First House program, despite an opposite recommendation by Romania’s National Bank (BNR). However, the senators have approved the amendment suggested by the central bank of capping the loans that would qualify for giving in payment to EUR 150,000. Enache Jiru, Secretary of State within the Finance Ministry, asked the senators to remove the First House program from this law, reports local Mediafax. He said that promoting the law without the amendments suggested by BNR and the Finance Ministry could generate risks and have an impact on the state budget. The Senate voted the law yesterday. The Chamber of Deputies needs to analyze it next. editor@romania-insider.com