Romania’s Chamber of Deputies will vote today on the conversion of Swiss francs into local currency loans at the historic exchange rate from the moment the loans were granted.

The reunited committees within the Parliament removed yesterday an amendment according to which the conversion can take place if the value of the contracted loan doesn’t exceed CHF 250,000. The provision had been introduced on Monday last week by the budget and judicial committees within the Chamber of Deputies.

They had also introduced another amendment according to which only bank clients with an indebtedness of over 50% would benefit from the conversion of Swiss francs into local currency loans at the historic exchange rate. This amendment, too, was removed a few days later.

The current version of the law also provides that the local banks that have already undergone a conversion of loans should return to the initial contracts to carry out the conversion under the new conditions, if clients ask for this. Banks will be fined if they refuse to convert the loans.

editor@romania-insider.com