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Romania parliament committees okay Swiss franc loan conversion
October 10, 2016 / 3:01 PM / a year ago

Romania parliament committees okay Swiss franc loan conversion

BUCHAREST, Oct 10 (Reuters) - Romanian parliament committees approved on Monday a bill to help Swiss franc borrowers convert their mortgage loans into leu currency at historical rates, going against central bank recommendations.

“It’s now approved,” Nicolae-Ciprian Nica of the biggest party, leftist Social Democrats, told Reuters by telephone. “We agreed with the Liberal party deputies to back historical rate conversion.”

Nica said he hoped the bill would clear parliament in a final vote on Tuesday - a rubberstamp given overwhelming support from Romania’s main political groupings.

Reporting by Radu Marinas; editing by Luiza Ilie

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