The central bank decided to limit cash loans, because the analysis showed that they have been growing steadily for the past five years.
This was announced today by the director of the bank control sector in the CBCG, Dejan Vujacic.
He explained that citizens with an average salary of 511 euros could withdraw up to 25.000 euros in cash from banks, and that this had to be taken care of.
"The average indebtedness of citizens has grown and now amounts to 10,7 thousand euros in terms of cash loans," said Vujacic.
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He said that five banks will not be able to approve these loans, that is, that new measures will apply to them.
Stricter measures since January
On Monday, October 14, the Council of the CBCG adopted a decision to limit the cash loans that banks will give to citizens, the implementation of which will begin in January. The draft was planned from November, and after discussions with bankers, the deadline was moved.
It is defined that for those loans, the repayment term of which is longer than eight years, the bank must ask for better quality collateral (fiduciary or mortgage on real estate, pledge on movable property or financial instruments...)
Banks that have a high exposure based on these loans with a remaining repayment period of more than six years (over 50 percent of the bank's own funds) can grant them to citizens with a repayment period of more than six years, provided that the loan is secured by quality collateral. This restriction will be in effect for two years.
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