Resolution Of 7 July 2015, Of The General Directorate Of The Treasury And Financial Policy, By Which Updates Annex 1 Of The Resolution Of February 5, 2015, That Is Defined The Principle Of Financial Prudence, Applicable To The Ope...

Original Language Title: Resolución de 7 de julio de 2015, de la Secretaría General del Tesoro y Política Financiera, por la que se actualiza el anexo 1 de la Resolución de 5 de febrero de 2015, por la que se define el principio de prudencia financiera aplicable a las ope...

Read the untranslated law here: http://www.boe.es/buscar/doc.php?id=BOE-A-2015-7738

Resolution of February 5, 2015, of the General Directorate of the Treasury and financial policy, which defines the principle of financial prudence, applicable to operations of indebtedness and derived from local authorities, and of the autonomous communities which accept the Fund's financing autonomous sets in its third article that 'the maximum total cost of borrowing operations including commissions and other expenses, except the committees referred to in paragraph 3 of this article, it shall not exceed the cost of financing of the State the term of operation, increased in the differential that corresponds according to the type of administration, defined in the following section.

The communities autonomous, and those entities local that have with tools of valuation own or an advice external independent, will determine in the time of the operation the cost of financing of the treasure based on the methodology contained in the annex 2 of this resolution. He rest of entities local, to know the cost of financing of the State to each term, used the table of types fixed or them differential maximum applicable on each reference that publish monthly, by resolution, the Secretariat General of the treasure and political financial. 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 which shall replace annex 1 included in the resolution of February 5, 2015.

Madrid, 7 July 2015.-the General Directorate of the Treasury and financial policy, Rosa María Sánchez-Yebra Alonso.

ANNEX 1 types of interest fixed and differential cost of State funding for the purpose of compliance with paragraph third from the resolution of 5 February 2015, the General Directorate of the Treasury and policy financial half-life operation (months) fixed-rate maximum maximum on euribor 12 months maximum differential differential on euribor 6 months differential maximum on euribor 3 months maximum on euribor 1 month 1 differential −0 ,19





 





 





 





−10






2





−0,05





 





 





 





5






3





0,00





 





 





1





9






4





0,00





 





 





2





10






5





0,02





 





 





3





11






6





0,05





 





0





6





14






7





0,07





 





1





7





15






8





0,09





 





2





8





16






9





0,11





 





4





10





18






10





0,12





 





4





11





19






11





0,13





 





6





12





20






13





0,14





−4





6





14





22






14





0,14





−5





6





14





23






15





0,16





−4





7





16





24






16





0,18





−2





9





17





26






17





0,20





0





11





19





28






18





0,24





4





15





23





32






19





0,28





7





18





27





35






20





0,31





10





21





29





38






21





0,34





12





23





31





40






22





0,36





14





25





34





42






23





0,39





16





27





36





44






24





0,41





18





29





38





47






36





0,69





38





49





58





68






48





1,00





57





69





79





89






60





1,35





78





90





99





109






72





1,62





90





102





111





121






84





1,88





101





112





122





132






96





2,09





108





120





129





139






108





2,28





115





126





135





145






120





2, 36





112





123





132





142






132





2,52





117





129





138





148






144





2,64





122





134





143





153






156





2,76





127





138





147





158






168





2,83





128





139





148





158






180





2,87





125





137





146





156






192





2,92





128





139





148





158






204





2,98





130





142





151





161






216





3,04





134





145





154





164






228





3,09





137





149





158





168






240





3,15





141





152





161





171






252





3,21





144





156





165





175






264





3,25





147





158





167





178






276





3,27





149





160





169





179






288





3,29





150





161





170-180-300 3.31 151 162 171 182 312 3.34 154 165 174 184 324 3.37 156 168 177 187 336 3.40 159 170 179 190 348 3.43 162 173 182 192 ≥360 3.46 165 176 185 195 fixed interest rates and differential applicable maximum for operations exact average whose life is not posted in the This table shall be found by linear interpolation between the two types or spreads closer to the average operation time.


Fixed interest rates and differential applicable maximum for operations whose exact half life is not posted in this 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, differential maximums contained in article 3, paragraph 2, of the resolution of 5 February 2015, the General Directorate of the Treasury and financial policy may be applied.