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ARB President: mortgage loan is underdeveloped in Romania

Romanian Banks Association (ARB) president Radu Gratian Ghetea warned on Thursday, of the low level of the mortgage loans in Romania stressing that ARB asked Romania's Central Bank (BNR) to alter the mortgage loan regulations.

'The mortgage loan is far from jeopardizing the banking system as long as it represents only 10 percent of the total loans and therefore we asked the drop in the VAT for buying new dwellings, a step that has been enacted already,' Ghetea said, mentioning that ARB proposed the fall in the VAT for the new homes, during a discussion with the Economy and Finance Ministry (MEF) officials, when they also tackled the issue of unblocking the State Treasury money and use it for loans granted by the commercial banks.

'We asked the money blocked in the Treasury to be transmitted to the commercial banks, because the Treasury avails of limited instruments to use it profitably,' Ghetea point out.

'We also discussed with the Government other measures to boost credits and loans, but also a Plan B, which the Government should implement in case of a major crisis in Romania, a plan to solve the economic crisis effects and measures of stepping up the EU funds whose absorption is very slow. The cooperation at the level of governmental agencies, namely the interference among the banks and the EU funds, is not very good,' Ghetea explained.

'I think the measures taken by other EU states can inspire us. Everybody agreed that the must involve the whole banking system irrespective of the capital,' ARB official said.

 

Sursa: http://www.rompress.ro

Tags: mortgage romania bnr

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