Regulatory Alerts2019-12-05
Resolution of 3 December 2019 updating Annex 1 on financial prudency principles for autonomous communities and local entities
The Secretary General of the Treasury and International Financing issued this resolution to update Annex 1 of the 2017 prudency resolution, establishing the maximum fixed interest rates and Euribor differentials for debt operations by Spanish autonomous communities and local entities. The update, based on market data from 2 December 2019, defines the maximum total cost of financing relative to the State's financing cost for various loan maturities. It also specifies calculation methodologies, including linear interpolation for unlisted terms and the application of a 0% rate if the calculated maximum cost is negative.
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