The reference index for consumer loans (IRCC), regulated by Emergency Ordinance (OUG) 19/2019, is 5.86% per year, down from the one published three months ago, of 5.90% per year, according to the data published on Friday by the National Bank of Romania (BNR).

The index is calculated as the arithmetic mean of the daily interest rates of interbank transactions from the first quarter of 2024.

According to OUG 19/2019, for loans granted in the national currency, the interest will be composed of a reference index calculated exclusively on the basis of interbank transactions for a certain period, to which the creditor can add a certain fixed margin throughout the duration of the contract. The reference index for credits granted in lei with variable interest is published every working day on the website of the National Bank of Romania.

IRCC is calculated at the end of each quarter, as an arithmetic average of the daily interest rates determined for the previous quarter, to be applied by each credit institution for the following quarter.

The National Bank of Romania published, on May 2, 2022, the quarterly reference index for consumer loans (IRCC), regulated by art. II and III of Government Emergency Ordinance no. 19/2019, this being 2.36% per year. The index was calculated as the arithmetic mean of the daily interest rates of interbank transactions from the fourth quarter of 2018.

Regarding the three-month ROBOR index, based on which the cost of consumer loans in RON with variable interest is calculated, it was 6.01% per year on Friday, the same as in the previous meeting.

AGERPRES