Interest rate LIBOR 6М / EURIBOR 6М / TDA 9M / AIR 6M / TERM SOFR / IRCC / IRCB

 

Dear customers,

 

this is to inform you about new interest rates that will be introduced:

 

Interest rate from 15.03.2024

from 15.04.2024

LIBOR 6M USD 5.7623% 5.7623%
EURIBOR 6M EUR 3.8350% 3.9080%
TDA 9M MDL  0.00%  0.00%
AIR 6M MDL 4.31% 3.83%

 

Interest rate from 20.02.2024

from 20.03.2024

AIR 6M USD 2.72% 2.67%
6MTermsofr USD 5.1650% 5.2749%
NEW Euribor 6 m 3.8350% 3.9080%
IRCB MDL 3.13% 2.71%
IRCC MDL 4.10% 4.19%

 

Interest rate for Program "373" 01.07.2023-31.12.2023 

01.01.2024-30.06.2024

MDL 7.62% 4.38%
EUR 2.60% 1.88%
USD 2.60% 1.88%

 

We would like to inform you regarding changes of LIBOR 6M USD / AIR 6M USD / EURIBOR 6M EUR / TDA 9M MDL / AIR 6M MDL / TERM SOFR / IRCC / IRCB interest rates, which are modified every six months. Interest rates on loans with floating rates indexed to LIBOR 6M / AIR 6M USD / EURIBOR 6M / TDA 9M MDL / AIR 6M MDL / TERM SOFR / IRCC / IRCB  will be modified and client repayment schedules will be revised accordingly.

LIBOR 6M USD rates are used to calculate the interest rate on loans with a term greater than one year which have been disbursed in USD or in MDL indexed to USD (for loans granted till 14 March 2022).
AIR 6M USD is used to calculate the interest rate of loans disbursed in USD (for loans granted in the period between 15 March 2022 - 11 June 2023).
TERM SOFR is used to calculate the interest rate of loans disbursed in USD (for loans granted starting with 12 June 2023).
EURIBOR 6M EUR rates are used to calculate the interest rate on loans with a term greater than one year which have been disbursed in EUR, or in MDL indexed to EUR.
TDA 9M MDL is used to calculate the interest rate on loans disbursed in MDL with a term greater than one year (for loans granted on or before 27 June 2016).
AIR 6M MDL is used to calculate the interest rate on loans disbursed in MDL (for loans granted on or after 15 January 2017).          
IRCB MDL - reference index for loans issued in national currency for business clients as well as for loans issued to private individuals whose purpose is entrepreneurial or professional activity (for loans issued starting from August 15, 2023).                                                   
LIBOR (London Interbank Offered Rate) is an average interest rate for loans in the international market. LIBOR is the most common indicator of short-term interest rates in the world and its calculation is overseen by the British Bankers’ Association.
IRCC MDL – is used to calculate the interest rate on loans disbursed in MDL, granted starting with August 01, 2023.   
 

AIR 6M USD - is the interest rate which is based on the average financial value of the funds in USD (the cost of interest expenses, fees, including those relating to financial guarantees, if applicable), attracted by the Bank in the 6 months prior to the end of the preceding month, calculated by the Finance Department for the previous month.

TERM SOFR  - term reference rate with a maturity of 6 months, which is published by the CME Group (Chicago Mercantile Exchange) designated as the administrator for the calculation and publication of TERM SOFR rates. It represents a daily set of anticipatory estimates of the reference interest rate in US dollars.

EURIBOR (European Interbank Offered Rate) is used as the minimum or basic interest rate for loans in the European market. Euribor calculation is overseen by the European Banking Federation, which represents credit institutions in the euro area, Iceland, Norway and Switzerland, as well as the Association of Financial Markets.

 

TDA 9M MDL - is the interest rate established for nine-month term deposits in MDL at ProCredit Bank Moldova. 
 
AIR 6M MDL - is the interest rates which is based on the average financial value of the funds in MDL (the cost of interest expenses, fees, including those relating to financial guarantees, if applicable), attracted by the Bank in the 6 months prior to the end of the preceding month, calculated by the Finance Department for the previous month.

IRCC MDL - reflects the weighted average interest rates on new deposits attracted in national currency, with a maturity of 6-12 months, in the total national banking system.

IRCB - (business customer reference index) - is based on the average daily balance of interest rate-sensitive liabilities (customer funds, loans) in MDL and their cost related to interest expenses, commissions, including those related to financial guarantees, if applicable, attracted by the Bank, calculated for the previous month.

 

For loans issued from "373" Investment Stimulation Program approved by Government Decision no. 351/2023 of 07.06.2023, the interest rate is revised once every 6 months and is set according to the fluctuation of the reference rate published by the National Bank of Moldova.

The reference rate, published by the National Bank of Moldova, is calculated as the weighted average interest rate on new deposits attracted in foreign currency with maturity of 6 to 12 months, total for the banking sector (source: www.bnm.md).

The information regarding the reference rate for the "373" Investment Stimulation Program is published on the official website of the Program (www.373.gov.md), as well as on the official website of ODA (www.oda.md)