Regulatory Alerts2012-06-30
Urgent Decree of the Minister of Economy and Finance, President of the CICR, No. 644 of 30 June 2012
The Minister of Economy and Finance, acting as President of the Interministerial Committee for Credit and Savings, issued an urgent decree regulating the fees and charges applicable to credit lines and overdrafts under the Banking Act. The regulation mandates that credit lines incur only a comprehensive commission capped at 0.5% per quarter and interest, while overdrafts are subject to a fast-track processing fee limited to actual costs and interest, with specific exemptions for small amounts and short durations. Financial institutions were required to adapt existing contracts to these transparency and cost-comparison standards by October 10, 2012.
Share