Germany: New Prime Lending Rate since 1 January 2014: -0.63%

The prime lending rate is adjusted as at 1 January and 1 July of each calendar year, pursuant to the provisions of § 247 of the German Civil Code. It is currently -0.63% (previously -0.38%).

This results in the following default interest rates in relation to:

• transactions in respect of which a consumer is involved: 4.37% (calculated as -0,63% + 5 percentage points= 4,37%); and
• transactions between companies / businesses: 7,37% (calculated as -0,63% + 8 percentage points = 7,37%).

Barbara Mayer