Statement from the NBS Bank Board’s 24th meeting of 2020

25. 11. 2020 | Press Release of the NBS

The Bank Board of Národná banka Slovenska today (24 November) held its 24th meeting of 2020, chaired by NBS Governor Peter Kažimír.

The Bank Board took note of NBS's November 2020 Monthly Bulletin, which will be published on the NBS website.

The Bank Board approved NBS's November 2020 Financial Stability Report, which will be published on the NBS website.

The Bank Board approved a Decree of Národná banka Slovenska laying down detailed provisions on the calculation of the annual percentage rate of charge for consumer loans.

The Decree addresses ambiguities arising in real-world calculations of the annual percentage rate of charge (APRC) for consumer loans, and it aims to clarify and explain certain technicalities of the calculation. The APRC should serve as a parameter by which consumers can reliably compare credit products. It should also help creditors, since they can face serious repercussions if they miscalculate the APRC for a consumer loan, for example by setting it above the maximum amount.

The Decree takes effect on 1 January 2022.

The Bank Board approved a Decree of Národná banka Slovenska laying down detailed provisions on the calculation of the annual percentage rate of charge for housing loans.

The Decree addresses ambiguities arising in real-world calculations of the annual percentage rate of charge (APRC) for housing loans, and it aims to clarify and explain certain technicalities of the calculation. The APRC should serve as a parameter by which consumers can reliably compare housing loan products. It should also help credit institutions, since they can face serious repercussions if they miscalculate the APRC for a housing loan.

The Decree takes effect on 1 January 2022.

Peter Majer
NBS Spokesperson

 

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
Internet: http://www.nbs.sk

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