2019

DOI:https://www.doi.org/10.31178/AUBD.2019.02

Abstract: A universally applicable solution cannot be provided, as it is not possible to determine in general terms whether one or more sales contracts involving payment in installments and retention of title constitute a lending activity, as the determination rests with the National Bank of Romania (as the sole authority empowered to decide whether an entity’s activities constitute professional credit activities and fall under the scope of Law No. 93/2011—Article 3(1))  following an analysis of each individual situation through the lens of the criteria expressly established by the legislature via the provisions of Article 3 of Law No. 93/2011, paragraph (2), final sentence—the conduct of such activities as independent economic activities aimed at generating regular income; the existence of specialized internal structures in the field of lending that manage and analyze these activities separately, based on pre-established rules and taking into account lending activities when drafting the company’s budget or making forecasts regarding the company’s overall operations—criteria that will, in fact, be the subject of this analysis.

Keywords: lending activity, interest income, installment sales, banking institution, nonbank financial institution