How Does Pregnancy Discharge Look And Occur

The compounding BANK

The banks have always charged quarterly interest expense and other fees paid annually and credited to interest income. This practice involves the ends of the recipient, the effect of interest on interest in the quarter after the charge, with a real cost to the current higher than the nominal agreed at the beginning of the report.

With the Legislative Decree 342/1999 (article 25) the legislature has acted on the matter, leaving the Interministerial Committee for Credit and Savings (CICR) to determine the procedures and criteria for the production of interest on interest in different types banking. The same ICRC therefore, by resolution dated 9.2.2000, has granted to banks, the eventual capitalization (including interim) and interests of debtors and creditors for the interests of various banking transactions, but under strict conditions:

• the capitalization periodic inspection must be uniform for both debit interest and the interests creditors;

• must be provided to customers the appropriate level of transparency to the stipulations concerning the compounding, stating, inter alia, the frequency of capitalization and its effects on the rate compared on an annual basis (for example, the nominal rate and effective rate of 1.00% annually with quarterly capitalization 1.02%);

• the clauses relating to the capitalization of interest must be specifically approved in writing by the client;

• final closure marks the end of the current account of operation of the mechanism anatocistico.

Resolution of 9.2.2000 ICRC entered into force on 22.4.2000. Therefore, for contracts concluded before the entry into force of the resolution, the agreed conditions would be appropriate before 30.6.2000 and its effects would have expired from 1 .7.2000, with the specific approval of the customer in case of worsening conditions than those applied earlier and simple communication with the customers by 31.12.2000 if the new terms were not behaving worse.

born at this point the problem of identifying what are the items that are subject to the legislation and which are instead sull'anatocismo the excluded items. And 'well-known fact that banks use to charge, on a quarterly basis, not only simple interest on debt (Interest = Capital x Rate x Days: 365) but also other additional items such as:

• the Board of
• overdraft fees for each transaction
• closure costs and send the account statement
• expenditure for the renewal of credit, etc..

have spoken on this subject is the Bank of Italy is the Italian Exchange Office who, by communications .1.2003 8 (BI) and 18.2.2003 (UIC), said that the only item that was amenable all'anatocismo on simple interest. However, given that these institutions are representative bodies of the banking world and also taking into account that their communications may not have the same value of the law, this claim can be shared for various expenses but may not be shared for the Board of overdraft .

The nature of the latter (cms), in fact, has long been debated in the literature in order to identify the consequences both for dell'anatocismo is to exceed thresholds usurious.

The method of calculation used by banks (a maximum rate debt exposure in the quarter reached) could be considered ancillary to the Committee on an item to add to the interest expense, as such rules dell'anatocismo.