The National Bank of Romania (BNR) brings new news regarding the most important reference rates used in Romania for calculating interest on bank loans.
According to the new data from the "ROBOR May 9th" section, the ROBOR 3-month index has stagnated at 6.05%.
The ROBOR 6-month index has stagnated at 6.07%.
On the other hand, the reference index for consumer loans (IRCC) has decreased from 5.96% to 5.8%.
ROBOR and IRCC are two of the most important reference rates used in Romania for calculating interest on bank loans.
ROBOR (Romanian Interbank Offer Rate) is an interest rate calculated based on the level at which Romanian banks are willing to lend to each other in lei on a short-term basis. It is mainly used for variable rate loans.
On the other hand, IRCC (Reference Index for Consumer Loans) is a reference rate introduced in 2019, which replaced ROBOR for consumer loans in lei.
The main difference between the two rates is the calculation method and the scope of application.
ROBOR is determined by banks based on their transactions on the interbank market, thus reflecting the costs at which money is borrowed between them.
On the other hand, IRCC is set by the National Bank of Romania (BNR) and is based on an average of the interest rates at which banks grant consumer loans in lei to the population and companies.
Source: dailybusiness.ro
Kommentare