On three to five-year maturity FCNR deposits, the rate ceiling
will be relaxed to 300 basis points above LIBOR.
I believe that the ECB should keep its targeted interest rate ceiling
at its current level, while allowing exceptions for such special shocks as the price of oil.
In addition, to the extent that a government program is not funded, MBA recommended the legislation should increase the interest rate ceiling
so that the subsidy offered in today's interest rate environment is comparable to that of 1942.
Since July, individual banks in Hong Kong can set their own interest rates as the territory's banking cartel, Hong Kong Association of Banks, ended its role in deciding the local savings deposit rate ceiling
following full deregulation of interest rates.
That order removed the rate ceiling
for capacity release transactions (until Sept.
Five policy variables were included in our analysis: the bank rate (BR), the average lending rate ceiling
(ALRC), the savings deposits rate floor (SDRF), the required cash reserve ratio (RHO), and the stipulated government securities ratio (SGSR).
The new law carries a clause obliging the Diet to review the interest rate ceiling
after three years in view of potential business difficulties small shoko lenders may face as a result of the cutback in the binding upper interest limit.
The deals are regulated by the Consumer Credit Act 1974 which has no interest rate ceiling
Given the Treasury's 5 per cent interest rate ceiling
for indexed bonds introduced in autumn 1993, bids were rejected for new issues as of the autumn of 1994, and the Treasury switched to ECU-linked bonds and increased borrowing abroad over this period.
The discount rate, the rate the Fed charges commercial banks and what Arkansas usury law ties the interest rate ceiling
to, has been raised three times.
All agree with The Heritage Foundation's Ed Feulner that before any VAT is considered, two issues must be resolved: Because VAT is a relentlessly efficient revenue raiser, government must set an absolute rate ceiling
to deter spending excesses.
Finally, the interest rate ceiling
associated with each loan was determined on the basis of the loan size, term-to-maturity, and the type of loan law governing the transaction.