Regulatory Alerts2018-12-08
Resolution of 4 December 2018 by the Directorate General for Treasury and Financial Policy updating Annex 1 to the 4 July 2017 Resolution on financial prudence for autonomous communities and local entities
The Directorate General for Treasury and Financial Policy issued this resolution to update Annex 1 of the 4 July 2017 Resolution, which establishes the financial prudence principle for debt and derivative operations of autonomous communities and local entities. The update provides the maximum fixed interest rates and maximum differentials over Euribor benchmarks applicable as of 3 December 2018 to ensure total financing costs do not exceed state financing costs plus applicable margins. These updated tables serve as the mandatory reference for administrations without independent valuation tools to calculate the maximum allowable cost of financing for various operational maturities.
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