BSP Memo No. M-2011-040:Effective Interest Rate Calculation Models for All Types of Loans

Relative to the implementation of Circular No. 730 dated 20 July 2011 on updated rules in implementing the Truth in Lending Act to enhance loan transaction transparency, Effective Interest Rate (ElR) calculation models illustrative of common loan features are presented herewith (Annexes A-E) for guidance.

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