Summary of the main provisions of GEO 37/2020 on granting facilities for credits granted by credit institutions and non-banking financial institutions to certain categories of debtors, published in the Official Journal, Part I no. 261 of 30 March 2020


Associate Professor Marcel VULPOI, PhD, expert accountant

CECCAR representative in the VAT Expert Group


I.  Regulations on the suspension of loan rates payment

1. By way of derogation from the provisions of the Government Emergency Ordinance no. 50/2010, as subsequently amended and supplemented, regarding the credit contracts for consumers, of the Government Emergency Ordinance no. 52/2016 regarding the credit contracts offered to consumers for immovable property, and of the Government Ordinance no. 51/1997, as subsequently amended and supplemented, regarding leasing operations and leasing companies, the payment obligation of outstanding credit rates for loans – namely capital rates, interest rates and commissions – granted to debtors by creditors until this emergency ordinance enters into force, is suspended at the debtor`s request for a period of up to 9 months, but not extending beyond 31 December 2020.

2. The maximum period of credit provided for in the creditor regulations may be exceeded by a period equal to that of the suspension of the payment obligation.

3. In the case of natural person debtors for whom the credit maturity extension exceeds the limit provided by creditor regulations for granting credits, creditors will act by restructuring the credit without exceeding this limit.

4. The beneficiaries of this emergency ordinance are debtors that concluded a contract to obtain a credit that has not reached its maturity date and for which the creditor has not stated the anticipated maturity prior to the entry into force of this emergency ordinance.

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