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Important notice

Bank Retail Base Rate

Currency RBR
AMD 9.0%
USD 2.7%
EUR 6.1%
GBP 7.5%

Bank Retail Base Rate

Currency AMD
RBR 9.0%
Currency USD
RBR 2.7%
Currency EUR
RBR 6.1%
Currency GBP
RBR 7.5%

AMD retail base rate review date: 25.08.2023
Effective from: 12.03.2020.

USD retail base rate review date: 25.08.2023
Effective from: 03.11.2022.

EUR retail base rate review date: 25.08.2023
Effective from: 09.10.2023.

GBP retail base rate review date: 25.08.2023
Effective from: 09.10.2023.

AMD Retail Base Rate (RBR)

AMD retail base rate review date: 25.08.2023

Effective from: 12.03.2020

Currency RBR
AMD 9.0%

AMD retail base rate review date: 25.08.2023

Effective from: 12.03.2020

Currency AMD
RBR 9.0%

RBR explanatory note

As of 25.08.2023, according to Central Bank of Armenia (CBA) publication, the weighted average of AMD retail deposit rates of the Republic of Armenia (RA) banking sector - with maturity of 181 days to 1 year for June 2023 and July 2023 is 9.2% and 9.2% respectively. Thus, the primary reference rate, calculated as the simple average of the latest available 2-month data as of 25.08.2023 is equal to 9.2%.

Taking into consideration that, as of the review date, the difference between the effective RBR (9%) and the calculated reference rate does not exceed 0.5 percentage points, the value of the RBR as a result of the review stays unchanged for the next period and is set at 9%.

Reference rate explanatory note

Primary reference rate. As per RBR review date 25.08.2023 the latest data available in the CB RA publication “Volumes and interest rates of deposits attracted from and loans extended to real sector by commercial banks” is as of June 2023 and July 2023. Taking into consideration that as per the publication, the weighted average of AMD retail deposit rates of RA banking sector - with maturity of 181 days to 1 year for mentioned 2 months is 9.23% and 9.17% respectively, the primary reference rate, calculated as the simple average of available latest 2-month data and rounded to one decimal place as of 25.08.2023 is set at 9.2%.

Reference rate explanatory note

Secondary reference rate (published for informational purposes only). As per the RBR review on 25.08.2023 the latest data available in the CBA publication on 'Interest rates of deposits attracted by commercial banks (monthly)' is as of June 2023 and July 2023. Taking into consideration that, as of the review date, the simple average of AMD retail and corporate deposit rates of the RA banking sector with up to 1 year and 1 year plus buckets is 9.10% ((8.35% + 9.84%)/2) for June 2023 and 9.00% ((8.23% + 9.78%)/2) for July 2023, the secondary reference rate, calculated as the simple average of data available for the latest 2 months and rounded to one decimal place as of 25.08.2023 is set at 9.1%.

USD Retail Base Rate (RBR)

USD retail base rate review date: 25.08.2023

Effective from: 03.11.2022 

Currency RBR
USD 2.7%

USD retail base rate review date: 25.08.2023

Effective from: 03.11.2022 

Currency USD
RBR 2.7%

RBR explanatory note

As of 25.08.23, according to CBA publication, the weighted average of USD retail deposit rates of RA banking sector with maturity of 181 days to 1 year for June 2023 and July 2023 is 2.9% and 3.1% respectively, thus, the primary reference rate calculated as the simple average of available latest 2-month data as of 25.08.2023 is equal to 3.0%.

Taking into consideration that as of the review date, the difference between the effective RBR (2.7%) and the calculated reference rate does not exceed 0.5 percentage points the value of the RBR as a result of the review remains unchanged for the next period and is set at 2.7%.

Reference rate explanatory note

Primary reference rate. As per RBR review on 25.08.2023 the latest data available in CB RA publication 'Volumes and interest rates of deposits attracted from and loans extended to real sector by commercial banks' is as June 2023 and July 2023. Taking into consideration that as per CBA publication, as of the review date the weighted average of USD retail deposit rates of RA banking sector with maturity of 181 days to 1 year is 2.87% for June 2023 and 3.06% for July 2023, the primary reference rate calculated as the simple average of available latest 2-month data and rounded to one decimal place as of 25.08.2023 is set at 3.0%.

Reference rate explanatory note

Secondary reference rate (published for informational purposes only). As per RBR review on 25.08.2023, the latest data available in CBA publication 'Interest rates of deposits attracted by commercial banks (monthly)' is as of June 2023 and July 2023. Taking into consideration that as of the review date, the simple average of USD retail and corporate deposit rates of RA banking sector with up to 1 year and 1 year plus buckets is 3.24% ((2.37% + 4.11%)/2) for June 2023 and 3.24% ((2.68%+ 3.79%)/2) for July 2023, the secondary reference rate, calculated as the simple average of data available for the latest 2 months and rounded to one decimal place as of 25.08.2023 is set at 3.2%.

EUR Retail Base Rate (RBR)

EUR retail base rate review date: 25.08.2023

Effective from: 09.10.2023

Currency RBR
EUR 6.1%

EUR retail base rate review date: 25.08.2023

Effective from: 09.10.2023

Currency EUR
RBR 6.1%

RBR explanatory note

As of 25.08.2023 according to European Central Bank publication, the simple average of €STR index for the available last six months' data in the period of 24.02.2023 to 24.08.2023 rounded to one decimal place is 3.1%. Thus, the primary reference rate, calculated as the sum of the latter and 3% fixed margin, is set at 6.1%.

Taking into consideration, that as of the review date the difference between the effective RBR (4.3%) and calculated reference rate does exceed 0.5 percentage points, the value of the RBR as a result of the review is changed for the next period and is set at 6.1%.

Reference rate explanatory note

Primary reference rate. As per RBR review on 25.08.2023, the latest available data for €STR index in European Central Bank publications is as of 24.08.2023, hence, the index calculated as the simple average of data in the period of 24.02.2023 to 24.08.2023, is equal to 3.11, rounded to one decimal place. The primary reference rate, being equal to the calculated €STR index plus a 3% fixed margin, as of 25.08.2023 is set at 6.1%.

Reference rate explanatory note

Secondary reference rate

Secondary reference rate (is published for information purpose only). As per RBR review date the latest data available in European central bank publications for Key ECB rate is as of 25.08.2023, hence as of 25.08.2023 the index defined as the simple average of the data in the period of 25.02.2023 to 25.08.2023 is equal to 3.20%. Therefore, the secondary reference rate, being equal to the sum of the calculated Key ECB index, rounded to one decimal place and 3% fixed margin, as of 25.08.2023 is set at 6.2%.

GBP Retail Base Rate (RBR)

GBP retail base rate review date: 25.08.2023

Effective from: 09.10.2023

Currency RBR
GBP 7.5%

GBP retail base rate review date: 25.08.2023

Effective from: 09.10.2023

Currency GBP
RBR 7.5%

RBR explanatory note

As of 25.08.2023 according to publications from the Bank of England, the average SONIA index (GBP overnight index average) over the last 6 months' available data in the period of 24.02.2023 to 22.08.2023 rounded to one decimal place is 4.5%, hence, the primary reference rate, calculated as the sum of SONIA and 3% fixed margin, is set at 7.5%.

Taking into consideration, that as of the review date the difference between the effective RBR (5.8%) and the calculated reference rate does exceed 0.5 percentage point, the value of the RBR as a result of the review is changed for the next period and is set at 7.5%.

Reference rate explanatory note

Primary reference rate. As per RBR review on 25.08.2023, the latest available data for SONIA index in Bank of England publications is as of 22.08.2023. Hence, as of 25.08.2023 the index calculated as the simple average of data for the period of 24.02.2023 to 22.08.2023 is equal to 4.50%. The primary reference rate, being equal to the calculated SONIA index, rounded to one decimal place, plus 3% fixed margin, is set at 7.5%.

Reference rate explanatory note

Secondary reference rate (is published for information purpose only). Within the RBR observation period from 25.02.2023 to 25.08.2023, the Bank of England base rate was equal to 4.57%, hence, the secondary reference rate, calculated as the simple average of latest available six months’ daily observation data, rounded to one decimal place, plus 3% fixed margin as of 25.08.2023 is set at 7.6%.

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