+Article 24 Variable rate credits

Article 24 Variable rate credits

Article 24

Variable rate credits

Where the credit agreement is a variable rate credit, Member States shall ensure that:

(a) 

any indexes or reference rates used to calculate the borrowing rate are clear, accessible, objective and verifiable by the parties to the credit agreement and the competent authorities; and

(b) 

historical records of indexes for calculating the borrowing rates are maintained either by the providers of these indexes or the creditors.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards