BRUSSELS, Feb. 10 (Chinese media) -- The sentence "Borrowing money costs money" must appear on advertisements for credit from April 1this year, according to a new measure introduced by the Dutch government to rein in the debt problem.
The Financial Markets Authority (AFM), the Dutch financial sector's watchdog, said Monday that the sentence will be obligatory for all credit advertisements on television, radio, Internet and in the printed media, Dutch news agency NIS reported Tuesday.
But advertisements for mortgages is exempted from the obligation, the report said.
The AFM will develop standard picture and audio files, which providers, brokers and advisors must use as a warning in their advertising material. The AFM has drawn rules on the way this warning must be included in an advertising statement, such as the format of the text and how long it must be shown (on TV).
The introduction of a warning for credit advertising is one of the measures the Dutch cabinet has taken to combat the increasing problem of debt. It is intended to make consumers more aware of the costs and risks of borrowing.
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