Romania’s central bank and leading business representatives have moved to defend commercial banks amid allegations by the competition authority that lenders colluded to fix the ROBOR benchmark, potentially exposing them to fines of up to EUR 1 billion, according to statements cited by local media.
The Romanian Banking Association said its members comply with national legislation governing the calculation of ROBOR and adhere to competition rules, describing such compliance as a “permanent and priority concern” for the sector, Bursa.ro reported.
The dispute centres on accusations that 10 banks may have coordinated to influence the interbank rate, with the effect of increasing borrowing costs for mortgage clients.
National Bank of Romania Governor Mugur Isărescu intervened in the debate, warning that public discussion around ROBOR is often based on misunderstandings. He said confusion over the benchmark continues to “disturb public debate” and stressed that the rate reflects actual interbank transactions and quotations.
Isărescu added that ROBOR plays a key role in transmitting monetary policy into the broader economy, suggesting that its movements are driven by market dynamics rather than coordinated actions by lenders.
Business organisation Concordia also cautioned against the tone of the accusations. Its president, Dan Șucu, said public claims targeting banks risk undermining confidence in the financial system, according to Stirileprotv.ro.
Such messaging “can quickly lead to higher credit prices and delayed investments,” Șucu warned, pointing to potential knock-on effects for the wider economy.
iulian@romania-insider.com
(Photo source: Costel Florin Astefanei/Dreamstime.com)
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