Setting a maximum usury rate and preventing clients from getting into debt to the extent of reducing their income below the minimum wage line are some of the changes that have arisen due to the application of the new law that has been in force since June 20.
On June 20, 2020 the Usury Law was published in the scope number 150 to La Gaceta number 147, which establishes the methodology to be used to set the maximum interest rate, from which the crime of usury will be considered to exist, details an official statement.
The main reference for loans and investments decreased from 5.35% to 5.30%, a level at which it will remain at least until June 15.
After the descent of the previous week, the Central Bank of Costa Rica (BCCR) released on Wednesday afternoon, June 8, news that the passive base rate will stand at 5.30% until at least Wednesday June 15.
The Effective Rate in Dollars is still 2.06%, while in the passive base rate in colones dropped from 5.40% to 5.35%, a level which it will remain until at least June 8.
After an increase last week, the Central Bank of Costa Rica (BCCR) made it known on Wednesday afternoon on June 1 that the passive base rate will stand at 5.35% until at leastWednesday June 8.
The passive base rate is an average of the deposit rates given by financial institutions for maturities of 150-210 days.
The Central Bank also reported that the Effective Rate in Dollars (TED) will be located at 2.06%.
The main reference rate for loans and investments in the country rose from 5.30% to 5.40%, a level at which it will remain until at least June 1.
After the descent of the previous week, the Central Bank of Costa Rica (BCCR) published on Wednesday afternoon on May 25 news that the passive base rate will stand at 5.40% until June 1.
The main reference for loans and investments in the country dropped from 5.40% to 5.30%, a level at which it will remain until at least May 25.
After the descent of the previous week, the Central Bank of Costa Rica (BCCR) published on Wednesday afternoon on May 18 news that the passive base rate will stand at 5.30% until May 25.
The main reference for loans and investments in the country rose from 5.35% to 5.40%, a level at which it will remain until at least May 18.
After the descent of the previous week, the Central Bank of Costa Rica (BCCR) published on Wednesday afternoon on May 11 that passive basic rate will stand at 5.40%.until next Wednesday May 18.
The main bank reference rate in Costa Rica, fell 0.20%, going from 5.55% to 5.35%, where it will remain until at least Wednesday May 11.
After the rise of the previous week, the Central Bank of Costa Rica (BCCR) revealed on Wednesday afternoon, May 4, that the passive base rate will stand 5.35% until at least May 11.
The Central Bank of Costa Rica has started publishing the effective rate in dollars, which is a weighted average of the gross interest rates given for term deposits.
Calculation of the Effective Rate in Dollars
Week of 05/05/2016 to 11/05/2016
Public banks: Relative Weight: 0.4338 - Average Rate: 1.6084
Private Banks: Relative Weight: 0,5662- Average rate: 2.1677
The main reference for loans and investments in the country rose from 5.50% to 5.55%, a level at which it will remain until at least May 4.
After the descent of the previous week, the Central Bank of Costa Rica (BCCR) published on Wednesday afternoon on April 27 that passive basic rate will stand at 5.55%.until next Wednesday May 4.
The main reference rate for loans and investments in the country dropped from 5.55% to 5.50%, a level at which it will remain at least until 27 April.
The Central Bank of Costa Rica (BCCR) revealed on Wednesday afternoon that the rate will be in effect for the week of Thursday 21 to Wednesday 27 of April.
The main reference rate for banks fell by 0.25%, going from 5.70% to 5.45%, where it will remain at least until Wednesday April 13.
After two consecutive increases, the base rate has resumed the downward trend seen in the previous weeks and has now settled at 5.45%, where it will remain from Thursday April 7 until at least April 13.
The main bank reference rate rose from 5.65% to 5.70%, where it will remain until at least Wednesday April 6.
After maintaining a downward trend, the passive base rate has risen for a second time. The increase is from 5.65% to 5.70% where it will remain from Thursday March 31 until at least April 6.
The main reference rate for loans and investments in the country dropped from 7.10% to 7.05% and will remain at that level at least until next May 13.
According to reports from the Central Bank of Costa Rica, after staying for three weeks at 7.10%, the passive base rate dropped 0.05% and will stand at 7.05% for at least a week.
The base interest rate is an indicator calculated by the central bank using the average uptake rates given by financial institutions on maturities of 150-210 days.
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
español
2311