What we can say is the rate caps
saw many small-scale borrowers being locked out of conventional borrowing,' Muturi said.
Stephen Mutoro, the Consum- ers Federation of Kenya (COFEK) Secretary-General criticised the IMF for its sustained tilt against the rate cap
and added that failed IMF poli- cies were to blame for the sad state of Kenya's banking.
There is a long history dating back to before the American Revolution of the use of interest rate caps
to protect against usury.
To keep client expectations reasonable at renewal time, it's important to know how the renewal index rate cap
is set each year.
These regressions examine the effect of the tax rate cap
while controlling for other characteristics of the districts.
If the rate cap
is introduced and assuming no change in the CBR, this would mean that no loan could be priced above 14.
on average, significantly lower than the 2013 interim rate cap
of 21 cents a minute that currently applies to interstate long-distance calls.
The full House Commerce Committee--which has long shot down interest rate cap
proposals is expected to endorse the position at the end of the month.
04 percent - less than the board's planned interest rate cap
In addition, an interest rate cap
on both "key-person" and pre-1986 contracts was added; the cap is based on the Moody's Corporate Bond Yield Average and is effective for interest paid after Dec.
The cost of the interest rate cap
is limited to the excess of par over the purchase price of the asset, not to exceed the actual price of the interest rate cap
The interest rate cap
law stipulates that banks pay depositors not less than 70 per cent of the CBR and charge not more than four percentage points above the CBR for loans.