financial service users

Draft Law on Financial Service Users: New measures for regulating interest rates

The National Bank of Serbia (NBS) has put forward for public consultation the draft Law on Financial Service Users, which introduces substantial changes to the regulation of interest rates and statutory default interest rates. The draft proposes reducing the statutory default interest rate to 12% for obligations in dinars and 10.25% for obligations with an exchange rate clause in euros. The current general statutory default interest rate is 14% for dinars and 12.25% for euros. The maximum value of interest…