Update on interest rate ceilings - International Law Office
Banking - Cyprus
Update on interest rate ceilings
December 02 2011
The interest rate ceiling, introduced on April 29 2011 by an amendment to the Criminal Code, is calculated and published by the Central Bank of Cyprus quarterly and was set at 12.18% for its first quarter (for further information please see "Interest rate ceilings introduced"). On October 27 2011 the Central Bank of Cyprus published a new interest rate set at 12.57%.
For further information on this topic please contact Nancy Erotocritou or Demetris Nicolaou at Harneys Aristodemou Loizides Yiolitis LLC by telephone (+357 2582 0020), fax (+357 258 20021) or email (nancy.erotocritou@harneys.com or demetris.nicolaou@harneys.com).
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