The Romanian Central Bank (BNR) board decided on Thursday that banks may accept a higher debt/income rate for clients that guarantee their loans with "quality real estate properties", a press release of the institution informs. The reason, according to the release, is that a recent analysis revealed that clients with mortgage credits are less likely to fail refunding the credit, compared to other categories of debtors".

Radu Ghetea, president of the Romanian Banks Association (ARB), had declared on Wednesday that such a modification would bring back the appetite for credits, for both clients and banks.

The BNR release also indicates that different conditions for different guarantees is a rule that may also play a role in limiting the effects of the international economic crisis.

Still, the responsibility for the credit conditions belongs to the ones who offer credits. Analysts consider that the new rule is welcome, but not enough to bring the credit market back to growth. Raiffeisen Bank chief economist Ionut Dumitru declared for The Money Channel that the main cause for the credit slowdown lays in the problems with obtaining financing from mother-banks abroad.

"Even if BNR accepts a higher debt/income ratio, the banks would still be prudent, because of the international circumstances", said Dumitru.