The monetary regulator has launched a special interest rate calculator for judicial use. It has also changed the hyperlinks for accessing the rate. This is in response to a complaint from companies.
He Central Bank (BCRA) development New tools to facilitate calculations with the interest rate for the use of Justice and reported that a calculator that simplifies the computing task is now available on its institutional website.
Additionally, The location of hyperlinks related to the interest rate has been updated for use by the Justice system with the aim of improving its access and availability, and this index was incorporated into the Main Variables API.
The measure responds a claim from the workers’ compensation insurance companies (ART) and companies that requested greater clarity on this issue since labor trials usually last a long time (up to five years) and the indexation rates were not clear, often, the amounts could be multiplied by ten.
This regulatory step had been agreed with companies in the insurance sector in the framework of a meeting held at the BCRA in which, among other issues, they agreed on this.
It is worth remembering that The BCRA has been preparing and publishing the Interest Rate for use by the Courts since 1991as established by Communication P14290. This rate was originally set in accordance with the regulations defined in Decree 941/1991 and is currently included within the provisions of Article 768 of the Civil and Commercial Code of the Nation.
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The Calculator allows you to compute the corresponding interest based on the start datel, the date up to which they are calculated and the initial amount on which they should be made.
“The API, an interface that enables interaction between software programs and applications, makes this rate series efficiently accessiblein accordance with the best available technology, for the people and institutions that use it,” the BCRA said in a statement.
This rate is calculated based on the fixed term performance and interest-bearing savings accounts and reflects the economic reality existing at any given time, considered consistently over a period of more than 30 years.
This is a tribute, which must be paid for the service of justice, which is paid as compensation by whoever requests or receives it.
Source: Ambito
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