Basic Passive Rate Lowest in Last 5 Years

Basic Passive Rate Lowest in Last 5 Years

The basic passive rate (TBP) will come down to 6.55% on November 14, 2013.

According to data released by the Central Bank of Costa Rica, the rate has been fluctuating between 6.60% and 6.55%, from October 12 this year.

The basic rate is used as a guide for most colones loans granted by financial institutions, and is calculated based on the weighted performance rates from private and public banks and other financial intermediaries.

The TBP began in 2013 at a level of 9.2% and has since maintained a downward trend.

A year ago the rate was 9.75%.

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