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The banks have strengthened markedly after the IMF specifically called on the government to repeal the rate cap Act.
Though cash flows indicated a higher rating, a new rating of 'Asf' is recommended due to the cap in place at 'Asf' category for this transaction, along with the potential faster amortization of the pool compared to the notional schedule of the interest rate cap.
This is in the wake of the now functional IFRS 9 accounting standards topping of on the already existing interest rate cap regime which have seen the banking sector shun small businesses and households on account of their high risk profiles.
Before the interest rate cap, Kenyan banks charged an interest rate spread of 11.
Congress did not intend to force servicemembers to give up the Servicemember Civil Relief Acts six percent interest rate cap today for a chance to earn Public Service Loan Forgiveness in the future.
The impairments, approved by President Uhuru Kenyatta, include a loan rate cap of four per cent above the Central Bank of Kenya (CBK) benchmark rates (CBR), which stood at 10.
The merchant community has largely prevailed, but not to the extent that it had hoped, given that the interchange rate cap was set at a higher level than was originally anticipated.
If a 36 percent rate cap is right for military families, it's right for every family.
In January, the Legislature will take up House Bill 267, a bill placing an interest rate cap of 36 percent APR on payday and auto title loans.
Will a renewal index rate cap on an annual, point-to-point index annuity likely go up when the index has been gaining over the last few months?
The appeals court held that the Prison Litigation Reform Act's (PLRA) attorney rate cap applied to all postjudgment fees incurred after its effective date, including fees related to postjudgment motions for contempt and discovery sanctions.
This rate cap would subsequently be reduced to $1 per $100 of assessed value for the 2001-02 school year.