August 3, 2020

Volume X, Number 216

July 31, 2020

Subscribe to Latest Legal News and Analysis

Statutory Default Interest Rate Rise in the Czech Republic

The Czech National Bank has increased the two-week repo rate from 2% to 2.25% with effect as of 7th February 2020. For commercial relationships governed by Czech law it means an increase in the statutory default interest rate from 10% to 10.25% per annum in relation to debts which will become overdue on or after 1st July 2020 if the central bank does not intervene again by then. The last increase in the statutory default interest rate happened on 3rd May 2019. While the Czech National Bank modified the two-week repo rate five times in 2018, there was only one change in 2019.

© Copyright 2020 Squire Patton Boggs (US) LLPNational Law Review, Volume X, Number 43


About this Author

Squire Patton Boggs' global Financial Services Practice provides high quality legal, regulatory and public policy services to a wide range of participants in the financial services sector, including:

  • Financial institutions, capital sources and other financial intermediaries 
  • Their investors, suppliers and customers  
  • End-users of financial services (e.g., corporate borrowers) 
  • Regulatory authorities

Their team includes several former regulators and former executives and internal legal counsel at financial institutions and other financial...