Those that have ongoing loans with floating interest rates, butwhich are not tied to a clear indicator, now have before themadditional documents in which bankers propose significant margins,7-9 percentage points above Robor and Euribor, but this leaves themexposed to the risk of increased monthly instalments.
In the case of these loans, ordinance 50 itself asks banks tomove to tying the loans to an independent indicator, plus a margin.Since bankers are not currently willing to diminish the cost ofloans, clients are in a position to accept high margins. Aprospective increase in the reference indicator - very likely inEuribor's case, since it is currently close to all-time lows ofunder 1% a year, compared with an average previous levels 3%-4% ayear - will mean the payment of higher instalments in thefuture.
"Euribor is currently very low, interest rates are attractive, butsooner or later they will rise. At present, the only measure bankscan take is the one they are proposing, to add such margins to theEuribor. In the future, if internal interest rates fall and Euriborrises, banks may renegotiate some of the contracts, on a case bycase basis," says Aurelian Dochia, financial analyst and formerinvestment banker with BRD-SocGen group.
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