Regulatory Alerts2016-12-08
Resolution of 7 December 2016 by the Directorate General of the Treasury updating Annex 1 to the Resolution of 16 September 2016 on financial prudence for autonomous communities and local entities
The Directorate General of the Treasury issued a resolution on 7 December 2016 to update Annex 1 of the Resolution of 16 September 2016, which defines the financial prudence principle applicable to borrowing and derivative operations of autonomous communities and local entities. This update provides the new maximum fixed interest rates and maximum differentials over the Euribor for various operational maturities, serving as the benchmark for calculating the maximum total cost of financing. The document specifies that these rates are calculated using the Actual/Actual day count basis and allows for linear interpolation for maturities not explicitly listed in the table.
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