The budget and judicial committees within the Chamber of Deputies approved the rules for the conversion of loans in Swiss francs into local currency loans at the historic exchange rate from the moment the loans were granted.

The Chamber of Deputies will vote on this bill today, reports local Mediafax.

According to the law project, individuals who contracted loans in Swiss francs will be able to ask for the conversion of their loans into lei at the historic exchange rate with two main conditions, namely they need to have an indebtedness of over 50% and the value of the contracted loan can’t exceed CHF 250,000.

Some MPs initially proposed the conversion of all loans in Swiss francs into local currency loans at the exchange rate from when they were granted. However, other MPs came with amendments that limit the law’s application only to social cases in which people really have difficulties in repaying their loans.

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editor@romania-insider.com