10-10-2014, last updated 10-10-2014 15:21
Source: www.sxc.hu
Ministry of Justice reported, inter alia, to the Ministry of Finance, as well as NBP president and chairman FSA to take to October 16 ws position. changes in the level of statutory interest rates – said the ministry spokeswoman Patricia Loose.
After Wednesday’s decision of the Monetary Policy Council lombard rate, which determines the maximum level of market interest rates, was cut by 100 points. base – from 4 to 3 percent. According to the so-called. Law antylichwiarską maximum level of interest must not be more than four times the lombard rate. After the MPC’s decision is therefore 12 percent. on an annual basis. Meanwhile, existing governmental regulation said that statutory interest shall bear interest at 13 per cent.
Statutory interest are a form of compensation for the delay in the fulfillment of the supply of money. As a result, when in arrears for example. Fee bill of light, gas and phone are calculated us what statutory interest.
“October 9, 2014 r. Minister of Justice asked the Minister – Economy, Finance, Labour and Social Treasury and the President of the Polish National Bank and Chairman of the Monetary Policy Council and Chairman of the Financial Supervision Commission a request for comments until 16 October 2014. positions on the need for changes in the rate of statutory interest and an indication of proposals as to the amount, they should They shape “- said Loose.
She added, however, that the amount of the lombard rate is not critical for the statutory interest rate. “In this regard, there is no automatism or direct relationship” – she pointed out.
“Default interest shall be determined taking into account a number of statutorily defined criteria. According to the Civil Code, the Council of Ministers determines the amount of statutory interest, guided by the need to ensure discipline payment and smooth conduct of monetary settlements, taking into account the amount of market interest rates and the NBP interest rates “- she added.
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