Romania's three-month interbank offered rate ROBOR, which is used for pricing floating rate consumer loans in RON, climbed on Wednesday to 7.71 ppa from 7.56 ppa on Tuesday, a higher level being registered on May 7, 2010, namely 7.81%, the National Bank of Romania informed.
At the beginning of the year, the three-month interbank offered rate was 3.02 ppa.
The 6-month index that is used for pricing floating rate mortgage loans moved up to 7.83 ppa from 7.70 ppa the day before, and the 12-month ROBOR also picked up to 7.90 ppa from 7.77 ppa on Tuesday.
The Consumer Credit Reference Index (IRCC) regulated by Emergency Ordinance No. 19/2009 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
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