Banks want a new respite before installing the TV screens inside their branches

• Cerbulescu, ANPC: "We may grant one month, one month and a half, but it's not a postponement, it's an extension"

The Romanian Banking Association (ARB) wants the postponement of the deadline by which the commercial banks would have to install TV screens inside their branches, to allow the text concerning the customers' rights, which will be displayed on the TV screens, to be "consistent", Radu Graţian Gheţea, the president of the Romanian Banking Association said yesterday, at the conference organized by the Romanian Consumer Protection Authority (ANPC).

He said: "I take this opportunity to address a suggestion to Mr. Cerbulescu, concerning the order no. 164 of the ANPC, which stipulates that starting with April 1st, in the case of urban bank branches, and July 1st, in the case of rural branches, banks would have to display specific information on TV screens, concerning the rights and obligations of consumers. We are currently holding talks with the ANPC concerning the texts which will be displayed on the screens. We have promises that we will receive the favorable license of the ANPC. Our suggestion is to review the possibility of delaying the deadline, precisely to allow all banks to agree on the text. (...) I know that we have had another delay, but it is important that banks have a consistent approach. We do not want to present something that is makeshift, and is not unified".

According to Radu Graţian Gheţea, yesterday, the RBA was going to send a letter to the ANPC which was going to include the aforementioned suggestion.

In response to the statement of the president of the RBA, Constantin Cerbulescu, the president of the ANPC yesterday said that he would review the request of the banking community: "We will review the request of the ARB. We want for the information to be consistent for all the commercial banks. We are trying to deal with that problem as well. We want that order (ed. note: 164/2011 of the ANPC) to be more than just a piece of paper and to avoid confusing customers, by having banks display different texts. We may grant one month, one month and a half, but it's not a postponement, it's an extension, but at any rate the order will be implemented by July".

At the end of last year, the ANPC decided to postpone the deadline by which banks are required to install TV screens in the banking units. Therefore, instead of January 1st, 2012, the deadline was set to April 1st, 2012 for urban bank branches, and July 1st, 2012 for rural branches.

The provisions of order 164/2011 of the ANPC will only apply to branches with a total surface of over 100 square meters and at least seven employees.

On August 30th, 2011, the ANPC issued an order which involves the obligation of financial services providers to display inside their branches, using TV screens, several information concerning the rights and obligations of consumers, explanations concerning the terminology of the financial-banking system. Also, on a scroll-tape which occupy at least 10% of the surface of the screen, lenders will be required to display information concerning the costs of the products offered, such as commissions, the values of the benchmark indexes used in the loan agreements or the interest rates on deposits and other saving instruments.