Regulatory Alerts2009-11-30 | Circular 27/2009Added
Circular 27/2009 — Modifies Circular 21/2009
This circular grants financial intermediaries a temporary extension, valid from December 1, 2009, to March 31, 2010, to calculate the Annual Total Cost (CAT) using the interest rate applicable to the revolving portion of the credit line instead of the weighted average balance rate. This exception applies to entities unable to complete system modifications for the standard calculation method. The amendment adds a second paragraph to the First Transitory Provision of Circular 21/2009 to formalize this alternative calculation methodology for the specified period.