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Regulation No. 24/2011 of the National Bank of Romania governing loans extended to
individuals - amendments
Regulation No. 27/2011 published in Official Gazette No. 842/2011 hereby amends the
provisions of Article 18 of Regulation No. 24/2011 governing loans extended to individuals
Article 18
(1) Lenders that do have their own regulations which the National Bank of Romania has validated,
according to the Regulations of the National Bank of Romania No. 3/2007 on limiting the credit risk
applicable to loans granted to individuals, as subsequently amended and supplemented, shall notify
any amendments made for the purpose of enforcing the provisions of this Regulation, approved by
the relevant competent authorities, within not more than 90 days since its publication in Part I of
the Official Gazette of Romania, for validation purposes, according to the provisions of Article 5.
(2) Lenders that do not have their own regulations validated by the National Bank of Romania
according to the Regulations of the National Bank of Romania No. 3/2007, as subsequently
amended and supplemented, shall take the necessary measures to fulfil the obligations incumbent
upon them in accordance with this Regulation and shall send to the Supervision Department of the
National Bank of Romania, no later than 90 days after the publication of this Regulation in Part I
of the Official Gazette of Romania, the lending rules, amended accordingly and approved by the
competent authorities, for validation or, as appropriate, in order to document the compliance with
the applicable provisions of this Regulation.
(3) Until the conditions stipulated in Article 5 or, if applicable, the requirements applicable under
paragraph (2) are met, the lenders shall use their own regulations, applicable on the effective date
of this Regulation.
(4) Within 60 days after the entry into force of this Regulation, the lenders that do not have their
own regulations validated by the National Bank of Romania and that according to paragraph (3),
conduct their lending activity based on their internal rules, shall use the maximum indebtedness
levels referred to in Article 19.
Amended by:
Regulation No. 27/2011 that amended Article 18 of the Regulation No. 24/2011 of the National
Bank of Romania governing loans extended to individuals, passed on 24 November 2011, Official
Gazette No. 842/2011.
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