Resolution of 28 November 2014 by the General Secretariat for the Treasury and Financial Policy updating the annex on financial prudence principles for autonomous communities' borrowing operations

OFFICIAL STATE GAZETTE No. 297 Tuesday 9 December 2014 Sec. I. Page 100858 I. GENERAL PROVISIONS MINISTRY OF ECONOMY AND COMPETITIVENESS 12828 Resolution of 28 November 2014 by the General Secretariat for the Treasury and Financial Policy, updating the annex included in the Resolution of 5 September 2014, which defines the financial prudence principle applicable to borrowing operations of common-regime autonomous communities and cities with autonomous statute joining the Autonomous Liquidity Fund. The Resolution of 5 September 2014 by the General Secretariat for the Treasury and Financial Policy, which defines the financial prudence principle applicable to borrowing operations of common-regime autonomous communities and cities with autonomous statute joining the Autonomous Liquidity Fund, establishes in its third article that "the maximum total cost of borrowing operations, including commissions and other expenses except those cited in the following subsection, shall not exceed the fixed rates or maximum differentials applicable, which shall be published monthly by Resolution of the General Secretariat for the Treasury and Financial Policy. The published maximum costs shall remain in force until new costs are published." Pursuant to this obligation to monthly update the applicable fixed rates or maximum differentials, a new annex is published, which will replace the annex included in the Resolution of 29 October 2014. Madrid, 28 November 2014.–The General Secretary for the Treasury and Financial Policy, Rosa María Sánchez-Yebra Alonso.

ANNEX Maximum Differentials Applicable for Compliance with Subsection Three of the Resolution of 5 September 2014 by the General Secretariat for the Treasury and Financial Policy

Average Life of the Operation (Months)	Maximum Fixed Rate	Maximum Differential over 12-Month EURIBOR	Maximum Differential over 6-Month EURIBOR	Maximum Differential over 3-Month EURIBOR	Maximum Differential over 1-Month EURIBOR
1	0.77	75
2	0.80	79
3	0.86	77	85
4	0.89	80	88
5	0.96	87	95
6	0.98	79	89	97
7	1.01	80	90	98
8	1.03	82	92	101
9	1.05	85	95	103
10	1.06	86	96	104
11	1.05	85	95	104
12	1.07	71	87	97	105
13	1.08	72	87	98	107
14	1.09	74	88	99	108
15	1.09	74	88	99	109
16	1.09	74	88	99	108
17	1.09	73	88	98	108
18	1.09	74	88	99	108
19	1.10	74	89	99	109
20	1.11	75	89	100	110
21	1.11	75	90	101	111
22	1.12	76	90	101	112
23	1.12	76	90	102	112
24	1.13	76	90	102	113
36	1.33	93	107	120	132
48	1.45	98	113	126	139
60	1.61	106	121	134	148
72	1.82	119	134	147	160
84	2.01	128	142	156	169
96	2.25	140	155	168	181
108	2.44	149	163	176	189
120	2.65	159	174	187	200
132	2.87	171	185	198	211
144	3.06	181	196	209	222
156	3.19	188	202	215	229
168	3.33	194	208	221	235
180	3.36	193	207	220	233
192	3.41	193	207	220	234
204	3.46	194	208	221	234
216	3.52	195	209	222	236
228	3.59	199	213	226	240
240	3.66	203	218	230	244
252	3.73	207	222	234	248
264	3.80	211	226	239	252
276	3.84	214	228	241	254
288	3.88	216	230	243	256
300	3.92	218	232	245	258
312	3.96	221	236	249	262
324	4.03	227	241	254	267
336	4.06	229	244	256	270
348	4.09	231	246	259	272
360	4.13	234	248	261	274
372	4.14	234	249	262	275
384	4.15	235	249	262	276
396	4.16	236	250	263	276
408	4.17	236	251	264	277
420	4.18	237	251	264	277
432	4.19	237	252	265	278
444	4.20	238	252	265	279
456	4.21	239	253	266	279
468	4.22	239	254	267	280
480	4.23	240	254	267	280
492	4.24	240	255	268	281
504	4.25	241	256	268	282
516	4.27	242	256	269	282
528	4.28	242	257	270	283
540	4.29	243	257	270	284
552	4.30	244	258	271	284
564	4.31	244	259	271	285
576	4.32	245	259	272	285
588	4.33	245	260	273	286
600	4.34	246	260	273	287
≥ 612	4.35

The fixed interest rates and maximum differentials applicable for operations whose exact average life is not published in this table shall be determined by linear interpolation between the two closest rates or differentials to the operation's average term. cve: BOE-A-2014-12828 http://www.boe.es OFFICIAL STATE GAZETTE D. L.: M-1/1958 - ISSN: 0212-033X