Three-month interbank offered rate drops on Monday to 2.98 pct per year

Romania's three-month interbank offered rate ROBOR dropped, on Monday, to 2.98 pct per year, from 2.99 pct per year, the value of the previous day, according to information published by the National Bank of Romania (BNR).

At the start of 2019, the three-month ROBOR was 2.99 pct per year, and at the beginning of this year it stood at 3.19 pct.

The 6-month index that is used for pricing floating rate mortgage loans dropped on Monday to 3.10 pct per year, from 3.11 pct per year on February 20, and the 12-month ROBOR diminished to 3.18 pct per year, from 3.19 per year in the previous session.

The Consumer Credit Reference Index (IRCC), regulated by Emergency Ordinance 19/2009, for the third quarter of 2019, is 2.36 pct per year, being calculated as the arithmetic average of the daily interest rates of interbank transactions in the first quarter of the year.

OUG No. 19/2019 came into force in May last year, modifying the way the interest rate for floating rate loans in lei is calculated and setting as benchmark the IRCC, calculated quarterly exclusively on the basis of interbank transactions.AGERPRES