New lending rules due to more expensive money and cheaper assets

“No regulation is eternal. The reality is the current reason for the proposed regulation,” Vasilescu told The Money Channel TV station.

The new rules, which were debated by BNR officials and representatives of commercial banks on Tuesday, will require lenders to consider the income for the previous year of applicants, rather than for the past three or six months, and to present a worst case scenario for interest payments, which is set to significantly reduce the number of loans granted.

“It is essential that the real income of a client is considered when loans are discussed,” said Vasilescu. (NewsIn)