The Central Bank's management has decided not to limit the total cost of credit (TCC) for all consumer loans for now.
The decision of the regulator’s board of directors will come into force on January 1 and will be valid until at least March 31, 2025.
Information about this was released on the Central Bank website on Wednesday, December 25.
The total cost of the loan includes all expenses for servicing the loan.
The APR includes interest for using credit funds, as well as a number of fees and related expenses (fee for issuing and servicing the card, payments to third parties, etc.).
The Central Bank explained why it decided to lift restrictions on the PSC.
If the measure had been maintained, it would have led to a reduction in the availability of credit funds for the population.
In addition, this could increase the risks of manipulation of the PSC calculation.
For now, the restrictions will no longer apply from the beginning of next year.
They will be lifted for three months, and then the question of extending the measure will be raised.
