Romania's three-month interbank offered rate ROBOR, which is used for pricing floating rate consumer loans in RON, climbed on Friday to 7.97 ppa from 7.85 ppa the previous day, the National Bank of Romania informed.
A higher level of the index was recorded on on February 1 2010, namely 8.15 ppa. Early in 2022 the three-month ROBOR was 3.02 ppa.
The 6-month index that is used for pricing floating rate mortgage loans moved up to 8.08 ppa from 7.97 ppa previously, and the 12-month ROBOR also picked up to 8.19 ppa from 8.08 ppa on July 28.
The Consumer Credit Reference Index (IRCC) regulated by Emergency Ordinance No. 19/2019 is 2.65 ppa, as to 1.86 ppa three months ago; the index is calculated as the arithmetic average of the daily interest rates of interbank transactions in Q1 2022.
In May 2019, Emergency Ordinance 19/2019 came into force, modifying the way in which the rate is calculated for RON-denominated loans with floating interest rates. Thus, Ordinance 19 established the Consumer Loan Reference Index (IRCC), calculated quarterly exclusively on the basis of interbank transactions. AGERPRES