A decision taken at the end of last month by the NBR and entered into force on June 1 in connection with the postponement of the payment of loans during the pandemic transforms Emergency Ordinance 37/2000 through which borrowers can benefit from the facility to suspend the obligation to pay installments at banking and non-banking financial institutions in a poisoned gift. That decision provides for the obligation to report these loans within the Credit Risk Center.
GEO 37/2020 published in the Official Gazette on March 30, 2020, as well as the Implementing Rules, published in the Official Gazette on April 6, do not provide for the obligation that deferred financing be reported to the Credit Risk Center (CRC) .
Individuals and companies applied in good faith for the facility to suspend the obligation to pay the installments made available by the authorities following the COVID-19 pandemic, which generated distortions in the functioning of the Romanian economy. However, on May 21, 2020, the NBR issues Regulation no. 3 for the amendment of Regulation no. 2/2012 on the organization and operation of the Credit Risk Center at the National Bank of Romania and which enters into force on June 1, 2020, by which the loans deferred for payment by GEO 37/2020 are registered in the CRC. According to the information received by the National Union of Road Carriers from Romania from road carriers, these loans were registered as being restructured, with negative effects on the credit history after the suspension period.
Thus, between March 30 and May 31, the clients of individuals and legal entities were able to suspend their loans according to GEO 37/2020 and no reporting was made in the Credit Risk Center. When someone appears registered in the CRC database, the information provided will be automatically maintained for a period of 7 years. Basically, GEO 37/2020 is no longer a measure of help for individuals and legal entities, but only a poisoned gift.