Resolution Of 1 October 2015, The General Direction Of The Treasury, By Which Updates Annex 1 Included In The 31 Of July 2015, The General Directorate Of The Treasury And Financial Policy, Which Defines The Principle Of Prude...

Original Language Title: Resolución de 1 de octubre de 2015, de la Dirección General del Tesoro, por la que se actualiza el Anexo 1 incluido en la de 31 de julio de 2015, de la Secretaría General del Tesoro y Política Financiera, por la que se define el principio de prude...

Read the untranslated law here: http://www.boe.es/buscar/doc.php?id=BOE-A-2015-10638

Resolution of 31 July 2015, of the General Directorate of the Treasury and financial policy, which defines the principle of financial prudence, applicable to the operations of debt and derivatives of the autonomous communities and local entities established in its third paragraph to 'the maximum total cost of borrowing operations, including commissions and other charges except commissions mentioned in annex 3, it shall not exceed the cost of State funding in the middle of the operation term, increased in the differential that corresponds as set out in annex 3 of this resolution.

The autonomous communities and local entities that have proprietary assessment tools or independent external advice may determine at the time of the operation cost of financing from the Treasury on the basis of the methodology contained in annex 2 of this resolution.

The rest of administrations, to know the cost of each medium-term State funding, will use the table of fixed rates or the differential applicable maximum on each reference published monthly, by a decision, the General direction of the treasure. The published maximum cost shall remain in force while not publish new costs».

In accordance with the obligation of monthly update of the cost of financing of the State each time, publishes a new annex 1.

Madrid, from October 1, 2015.-the General Director of the Treasury, José María Fernández Rodríguez.

Annex 1 interest rates fixed and differential cost of State funding for the purpose of compliance with paragraph third from the resolution of 31 July 2015, the General Directorate of the Treasury and half operation policy financial life (months) fixed maximum rate (%)





Diferencial máximo sobre euribor 12 meses (pbs)





Diferencial máximo sobre euribor 6 meses (pbs)





Diferencial máximo sobre euribor 3 meses (pbs)





Diferencial máximo sobre euribor 1 mes (pbs)






1





−0,18





 





 





 





−5






2





−0,09





 





 





 





4






3





−0,07





 





 





−1





7






4





−0,03





 





 





2





11






5





−0,01





 





 





4





12






6





0,00





 





−3





5





13






7





0,01





 





−2





6





15






8





0,02





 





−1





7





16






9





0,02





 





0





8





16






10





0,02





 





0





8





17






11





0,02





 





0





8





16






12





0,03





−11





1





9





17






16





0,06





−9





3





12





21






17





0,07





−8





5





14





23






18





0,09





−7





6





15





24






19





0,10





−5





8





16





25






20





0,11





−5





8





17





26






21





0,12





−5





8





17





26






22





0,12





−4





8





17





26






23





0,14





−3





10





19





28






24





0,17





0





13





21





30






36





0,38





13





27





36





46






48





0,61





26





40





50





60






60





0,89





41





56





66





77






72





1,14





53





67





78





89






84





1,38





64





78





88





99






96





1,58





72





86





96





107






108





1,76





78





91





101





112






120





1,85





76





89





99





110






132





2,00





82





96





106





116






144





2,12





87





100





110





121






156





2,24





91





105





115





125






168





2,32





92





105





115





126






180





2,40





94





107





117





128






192





2,45





95





109





119





130






204





2,50





97





111





121





132






216





2,57





101





115





125





136






228





2,63





106





119





129





140






240





2,70





110





123





133





144






252





2,76





114





127





137





148






264





2,81





117





131





141





151






276





2,84





120





133





143





154






288





2,88





122





136





146





157 300 2.91 125 139 149 159 312 2.95 129 142 152 163 324 2.96 130 144 154 164 336 2.98 131 145 155 166 348 2.99 133 146 156 167 360 3.00 134 148 158 168 fixed interest rates and differential applicable maximum for operations exact average whose life is not posted in the pres entity table shall be found by linear interpolation between the two types or spreads closer to the average operation time.

On these differentials or fixed interest rates on euribor, the maximum differential contents may be applied in annex 3 of resolution of 31 July 2015, of the General Directorate of the Treasury and financial policy, modified by the resolution of 18 September 2015, of the General Directorate of the Treasury and financial policy, amending Annex 3 of the resolution of 31 July 2015 which defines the principle of financial prudence, applicable to the operations of debt and derivatives of the autonomous communities and local entities.