Regulatory Alerts2026-01-29
Regulation No. 2014-02 on the Detection of Threshold Rates for Anti-Usury Purposes under Article 207 of the Penal Code
The Central Bank of the Republic of San Marino issued Regulation No. 2014-02 to establish the statistical methodology for calculating threshold interest rates to prevent usury under Article 207 of the Penal Code. The regulation mandates that authorized financial institutions report quarterly data on the Effective Global Average Rate (TEGM) across eleven specific financing categories, including consumer loans, mortgages, and factoring. These reported rates are used by the Central Bank to publish official threshold rates, which serve as the objective benchmark for identifying legally usurious interest levels.
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