Banks place in Internet how they count the base interest

01.06.2010

Banks will publish on their websites information about how the base rate on consumer loans is calculated. The commitment was approved by parliament on first reading yesterday. Amendments to the law for this type of credit was introduced a few days after the entry into force on May 12.

The definition of base rate now, determinate the base that it can not depends only on market index, but on the creditor with its methodology.

According to Yanaki Stoilov, there is no limit for the bank to change its methodology. He described the new change as "minimal, shyly proposal and requested to be rejected. He proposed a standard index to be establish, on which to calculate the base rate.

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