Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Isarescu: We can expect times with peak interest rates on the monetary market

Times of peak interest rates and malfunctions are still likely to occur on the Romanian monetary market, Governor of the National Bank of Romania (BNR) Mugur Isarescu said on Monday, adding that the monetary market has been seized by rising interest rates.

'Commercial companies in Romania are calculating interest against the ROBOR interest rate. Likewise, the primary preferential interest rate is also in use in Romania, after an American pattern. We are hailing these interest calculation patterns as long as they are transparent. Yet, we have our suggestion that the ROBOR-ROBID reference rates be kept in place, despite some possible malfunctions. We can expect times of peak interest rates on the market,' said Isarescu.

The ROBOR interest rate was frequently used by banks in their loan contracts, said Isarescu. 'There were commercial banks that hurried to tax customers and generated tensions in the process. The rules for the computation of interest rates charged on loans are established by the commercial banks and the National Bank of Romania offers its opinion on that. We have no comments right now,' he added.

Governor Isarescu added that it would be unwise for the banks to tax their clients because this way they would chase them out of their backyard, a hint to the interest rates of more than 40 percent against the ROBID-ROBOR inter-bank rates.

'Last week I discussed the matter with the chairman of the Association of Romanian Banks and this morning we had a careful look into it. We are in touch with technicians of the commercial banks. What is happening on the monetary market is a question of time,' said Isarescu.

In relation to the last week's developments in the ROBOR rate, the BNR governor mentioned that the interest rate partially reflects the market realities at best.

'As interest rates ascended a lot last week, tension ensued. The ROBOR-ROBID rates reached 41-46 percent, with average values of 28-32 percent. When computing the actual transaction interest rate for the entire volume of RON 1,400 billion, the arithmetic mean was 22 percent,' Isarescu explained. 'My suggestion is that the banks should not shoot themselves in the foot and scare clients away by saying this is the interest they have to pay on loans,' said Isarescu.

 

Sursa: http://www.rompress.ro

Tags: interest isarescu rates robor banks monetary times market bnr

Articole similare