Resolution Of 6 Of Mayo Of 2015, Of The Secretariat General Of The Treasury And Political Financial, By Which Is Updated The Annex 1 Included In The Resolution Of 5 Of February Of 2015, By Which Is Defines The Principle Of Prudence Financial Applicable...

Original Language Title: Resolución de 6 de mayo de 2015, de la Secretaría General del Tesoro y Política Financiera, por la que se actualiza el anexo 1 incluido en la Resolución de 5 de febrero de 2015, por la que se define el principio de prudencia financiera aplicable a...

Read the untranslated law here: http://www.boe.es/buscar/doc.php?id=BOE-A-2015-5165

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 will remain in force while new costs are not published.

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, may 6, 2015.-the General Directorate of the Treasury and financial policy, Rosa María Sánchez-Yebra Alonso.

ANNEX 1 types of interest fixed and differential of the cost of financing of the State for the purposes of compliance of the paragraph third of the resolution of 5 of February of 2015, of the Secretariat General of the treasure and political financial life half of the operation (months) type fixed maximum differential maximum on euribor 12 months differential maximum on euribor 6 months differential maximum on euribor 3 months differential maximum on euribor 1 month 1-0.10-3 2-0.03 4 3 0.00





 





 





1





7






4





0,01





 





 





2





8






5





0,00





 





 





1





7






6





0,01





 





–5





2





8






7





0,02





 





–5





2





8






8





0,02





 





–5





2





8






9





0,02





 





–4





2





9






10





0,01





 





–5





2





8






11





0,01





 





–5





2





8






12





0,03





–14





–4





3





9






13





0,04





–13





–3





4





10






14





0,04





–13





–3





4





10






15





0,04





–13





–3





4





10






16





0,05





–12





–2





5





11






17





0,05





–12





–2





5





11






18





0,06





–12





–2





5





11






19





0,07





–11





–1





6





12






20





0,08





–11





–1





6





12






21





0,09





–10





0





7





13






22





0,10





–9





1





8





14






23





0,11





–8





2





9





15






24





0,12





–7





3





9





16






36





0,29





3





13





20





26






48





0,53





17





27





34





40






60





0,79





33





43





49





56






72





1,00





43





53





60





66






84





1,24





56





66





73





79






96





1,45





67





77





84





90






108





1,64





78





88





95





101






120





1,74





81





90





97





103






132





1,86





85





95





102





108






144





1,99





93





103





110





116






156





2,11





101





111





118





124






168





2,19





105





115





122





128






180





2,26





108





118





125





131






192





2,31





110





120





127





133






204





2,34





111





121





128





134






216





2,39





115





125





132





138






228





2,46





120





130





137





143






240





2,52





125





135





142





148






252





2,58





130





140





146





153






264





2,64





134





144





151





157






276





2,67





136





146





153





159






288





2,69





138





148





155





161






300





2,72





140





150





157





163






312





2,74





142





152 159 165 324 2.76 143 153 160 166 336 2.76 143 153 160 166 348 2.77 143 153 160 166 ≥ 360 2.77 interest rates differential and fixed maximum applicable to 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.


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.