Business Banking
Phone numbers
Base Interest Rate
BIR levels for corporate loans since March 7th, 2013:
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BIR for corporate loans
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%
|
|
BIR for corporate loans in BGN
|
7.54
|
|
BIR for corporate loans in EUR
|
5.49
|
|
BIR for corporate loans in USD
|
2.71
|
BIR levels for corporate loans are set and reviewed monthly by the Asset-Liability Committee of the Bank (ALCO), based on the following formula (revised by ALCO on March 4th, 2013):
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BIR - the base interest rate for corporate loans in the relevant currency;
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Deposit rate - the highest tariff (non-contractual) interest rate offered by the Bank for corporate deposits with the following terms: 3 months for EUR and USD and 1 year for BGN deposits;
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Cost of required reserves with BNB - the cost of maintaining the required reserves for corporate deposits with the relevant terms (presented as a percentage of the deposit amount);
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Cost of deposit insurance - the deposit’s guarantee fee (presented as a percentage of the deposit amount) due by the Bank under the Law on Bank Deposit Guarantee;
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Country risk premium - the excess return required by the holders of Bulgarian long-term debt as compared to a risk-free benchmark (5-year Bulgarian CDS, according to Markit ask quote at 12:00 a.m. on the day before the BIR revision).
