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AstroBank
Αρχική  / Πληροφορίες/Εργαλεία / Ενημερώσεις / Μεθοδολογία Υπολογισμού Βασικού Επιτοκίου (διαθέσιμο μόνο στα Αγγλικά)
Μεθοδολογία Υπολογισμού Βασικού Επιτοκίου (διαθέσιμο μόνο στα Αγγλικά)
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Methodology for calculating and adjusting the Base Rates applicable to the credit facilities acquired by AstroBank Limited (‘”the Bank”) from USB Bank PLC (‘USB’) pursuant to the Sale and Purchase of the Business of USB Agreement (“the ex-USB facilities”).

The Bank sets out below the methodology it shall be using for calculating and adjusting the base rates applicable to the ex-USB facilities. For the avoidance of doubt, this methodology does not apply to ex-USB facilities for which the applicable base rate was linked to an external index such as the Euribor, Libor, ECB rates or for which rates applied were pursuant to the terms of collective agreements in force and applicable to staff transferred from USB to the Bank.

The “USB Base Lending Rate” and the “USB Housing Base Rate” (referred to hereinafter as the “ex-USB Base Rates), will be reviewed  at the same time as any review is made (each referred to as “the review date”) to the “AstroBank Base Lending Rate” and the “AstroBank Housing Base Rate” respectively (referred to hereinafter collectively as “the AstroBank Base Rates”). The resulting adjustment on each review date  shall be equal to any change (plus or minus) in the respective AstroBank Base Rates as such will be calculated in accordance with AstroBank’s Base Rate Methodology which can be found on the official Website of the Bank at  www.astrobank.com as this may be amended from time to time (“AstroBank’s Base Rate Methodology”). As of the date of issuance hereof, the “USB Base Lending Rate” and “USB Housing Base Rate” will be referred to respectively as the ‘AstroBank Base Lending Rate for ex-USB facilities’ and the ‘AstroBank Housing Base Rate for ex-USB facilities’ (collectively referred to hereinafter as “AstroBank Base Rates for ex-USB facilities”). Such terminology shall also be used in any means of communication exchanged with the Customers in connection with the ex-USB Base Rates.

The starting point for the first adjustment of ex-USB Base Rates was the latest value of each of the ex-USB Base Rates prior to the acquisition date of the credit facilities from USB (i.e. USB Base Lending Rate 4.34% and USB Housing Base Rate 3.0%).

In view of the aforementioned, with effect from 30th of September, 2019:

         the ‘AstroBank Base Lending Rate for ex-USB facilities’ remains unchanged at 4.34%

 

         the ‘AstroBank Housing Base Rate for ex-USB facilities is adjusted to 2.75% (from 3.0% previously)

and, subsequently, each of the Astrobank Base Rates for ex-USB facilities shall be calculated and adjusted as follows:

         the ‘AstroBank Base Lending Rate for ex-USB facilities’ shall be  equal to the previous ‘AstroBank Base Lending Rate for ex-USB facilities’ plus or minus any change  in the  AstroBank Base Lending Rate, as such will be calculated each time based on AstroBank’s Base Rate Methodology on each review date.

 

         the ‘AstroBank Housing Base Rate for ex-USB facilities’ shall be  equal to the previous ‘AstroBank Housing Base Rate for ex-USB facilities’ plus or minus any change   in the AstroBank Housing Base Rate, as such will be calculated each time on the AstroBank’s Base Rate Methodology on each review date.

  

Conditions and Parameters which may contribute to changes in the AstroBank Base Rates for ex-USB facilities

The conditions and parameters which may contribute to changes in the AstroBank Base Rates for ex-USB facilities are similar to those referred to in the AstroBank’s Base Rate Methodology found at the Bank’s official website at www.astrobank.com.

The Bank reserves the right to change the method of calculation of any of the Bank’s Base Rates at any time at its absolute discretion subject to notifying the customers to that effect.

 

29th of September, 2019