The Central Bank of Cyprus calculated the reference interest rate at 11.62% under Article 314A of the Penal Code Law, which sets the benchmark for determining whether loan-related financial benefits exceed the statutory threshold. Under Article 314A, receiving, charging or otherwise obtaining for oneself or a third party any financial or pecuniary benefit exceeding the reference rate in connection with granting a loan, extending a payment term, renewing a loan, or discounting a loan constitutes an offence, punishable on conviction by up to five years’ imprisonment, a fine up to EUR 30,000, or both.
Central Bank of Cyprus 2026-02-03
Central Bank of Cyprus sets the reference interest rate at 11.62% under Penal Code loan pricing rules
The Central Bank of Cyprus set the reference interest rate at 11.62% under Article 314A of the Penal Code Law, which serves as the benchmark for determining if loan-related financial benefits exceed the statutory threshold, constituting an offence punishable by up to five years’ imprisonment, a fine up to EUR 30,000, or both.