New law imposes fixed commissions throughout credit contracts

„We discussed with the Romanian Central Bank the possibility to find a system able to maintain market fluidity throughout these moments of international turbulences”, said Radu Ghetea, president of the Romanian Banks’ Association (ARB), at the end of the general association of bankers on Thursday. According to Ghetea, ARB supports the legislation project issued by the Consumers’ Protection Authority, with a range of nuances, and agrees with a law that would impose fixed banking commissions.

The same law may also mean the increase of the commissions, added Sergiu Oprescu, Alpha Bank president.

„Whether we want it or not, we will have to adopt the European recommendation on credit contracts, the deadline being January 1, 2010”, said Ghetea.

The interest rates will still vary, according to the law draft.

Considering the international crisis, there are no signs of weak banks in the system, the ARB president added.