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Interest rates charged on loans were initially set at 65%.
It assumes that the interest rates charged on loans will go up (see Page 8).
Governments in developing countries often impose caps on the interest rates charged on loans for the poor.
MBNA said it would not allow contractual interest to be charged on loans that were sold on.
Olli Rehn, the European commissioner for economic and monetary affairs, said that the interest rate charged on loans to Portugal would be "above 5.5 percent but clearly below 6 percent".
Between 1978 and 1980, the banking industry was effectively liberated from limits on the interest that could be charged on loans, including credit cards.
More specifically, the interest has been charged on loans from SHIL2's head office registered near Dublin to a SHIL2 branch office in Luxembourg.
It also left unchanged, at 6percentt, its discount rate -- the interest rate charged on loans to banks from the Federal Reserve system.
In many countries, banks were forced to hold extensive reserves (often in government bonds), cap the interest rates paid on deposits or charged on loans, or direct credit to favored sectors.
But the simple business of arranging new mortgages and scooping up the difference between the interest it charged on loans and the interest it paid for funds should have put the bank into positive territory.
Low interest rates make it harder for banks to make a profit on the difference between the rates that are paid on savings and the rates that can be charged on loans.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com