The ROBOR index at three months, according to which the cost of consumer loans in lei with variable interest is calculated, decreased on Thursday, to 6.69% per year, from 6.70% per year in the previous meeting, according to the data published by the National Bank of Romania (BNR).
The three -month Robor index dropped slightly on Thursday to 6.69%
Earlier this year, the index was 5.92% per year, but began to increase from May 6, two days after the first round of the presidential elections, when it rose to 6.08% per year.
The six -month index, used in the calculation of interest on mortgage loans in lei with variable interest, decreased to 6.82% per year, from 6.83% previous day, and ROBOR to 12 months went down to 6.94%, from 6.95%.
Regarding the reference index for consumer credits (IRCC), regulated by GEO 19/2019, it is 5.55% per year, being calculated as arithmetic mean of the daily interest rates of interbank transactions from the first quarter, similar to the previous quarter.
Robor (Romanian Interbank Offered Rate) represents the interest rate at which banks borrow on the interbank market.
ROBOR at 3 months (ROBOR 3M) is the weighted average interest rate at which the Romanian banks are borrowed, for a period of 3 months. It is an important reference index in the lending contracts, especially for loans in lei with variable interest.
ROBOR was introduced in 2010 and is the most commonly used indicator in calculating the interest rate interest in lei in our country, being replaced with IRCC for new loans since May 2019.
Robor is calculated every day by the NBR as the arithmetic mean of the interest rate at which the first 10 banks in our country are willing to offer loans in deposits in lei to other banking institutions. Depending on this index, all banks establish the interest rate interest rates that those who have variable credits will have to pay, taken in lei before May 2019.
