The Consumer Credit Reference Index (IRCC), regulated by OUG 19/2019, is 2.17% per year, is calculated as the arithmetic average of the daily interest rates of interbank transactions in the second quarter of 2020, down from the one published three months ago, of 2.41%, according to the data announced by the National Bank of Romania (BNR).
According to OUG 19/2019, "for loans granted in national currency, the interest rate will be composed of a reference index calculated exclusively on the basis of interbank transactions for a certain period, to which the creditor may add a certain fixed margin during the unfolding period of the contract. The reference index for loans granted in lei with variable interest is published every working day on the website of the National Bank of Romania. (...) The reference index is calculated at the end of each quarter, as an arithmetic average of the determined daily interest rates for the previous quarter, to be applied by each credit institution for the following quarter."
On May 2, the National Bank of Romania published the quarterly Consumer Credit Reference Index (IRCC), regulated by art. 2 and 3 of Government Emergency Ordinance no. 19/2019, of 2.36% per year. The index was calculated as the arithmetic average of the daily interest rates of interbank transactions in the fourth quarter of 2018.