El Salvador: New Maximum Rates for Loans

The Central Reserve Bank has published the ninth calculation of Maximum Legal Interest Rates in Application of the Law against Usury, which will be in effect as of July 1, 2017.

Wednesday, June 14, 2017

From a statement issued by the Reserve Bank of El Salvador:

The new Maximum Legal Rates (Tasas Máximas Legales or TML in Spanish) will come into effect on July 1, 2017, which correspond to the ninth calculation made since the entry into force of the Law Against Usury, reports the Central Reserve Bank. 
 
Included in this calculation are the second reforms to the Law Against Usury and their respective modifications in the applicable regulations. The amendments to the Law were approved by the Legislative Assembly on August 17, 2016 and have been in effect since September 17, 2016. 

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