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July 31, 2021

Swiss Franc borrowers organize protest in Bucharest

The Group of Clients with CHF-denominated Loans organized on Sunday a protest meeting outside the Palace of Parliament, asking the Government, the Lower Chamber, the National Bank and the commercial banks to convert forex-denominated loans into RON-denominated loans. According to police estimations, approximately 1,500 persons took part in the protest.

“If we consider the police estimations, there were about 1,500 participants, with a peak of 3,000-3,500 persons, which means that our protest meeting was a success, having in mind the weather and the distance, as we had people coming from Bacau, Iasi, Suceava,” said Daniel Teordorescu, organizer of the protest and member of Group of Clients with CHF-denominated Loans.

The Group’s requests were forwarded to authorities on January 20. The document urgently asks for a draft law that would solve the serious situation in which a significant part of bank clients that have forex-denominated loans (CHF, EUR, USD) find themselves, a communiqué remitted by the Group to Agerpres informs.

The request also includes a draft law proposal that stipulates the possibility of opting for the conversion of forex-denominated loans into RON-denominated loans, at the exchange rate that was in force at the time the loan contracts were signed, plus a difference of 20 per cent at most, irrespective of the type of loans offered (with or without guarantees), and the forbidding of the demand for and application of any other commissions, costs or supplementary guarantees in the loan conversion process.

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