The Central Bank of Argentina opened a public consultation on a draft regulation to create the Tasa de Intereses Moratorios (TIM), a reference rate intended to help courts determine late-payment interest under Article 768(c) of Argentina’s Civil and Commercial Code. Under the proposal, TIM would be calculated from the average of a passive rate (30-day ARS time deposits) and an active rate (a weighted average of rates on ARS loans granted via signature-only documents and personal loans). The resulting daily effective rate would be bounded by bands linked to the daily change in the Coeficiente de Estabilización de Referencia (CER), with a ceiling of CER plus 3% effective per annum and a floor of CER minus 3% effective per annum. The central bank also made available the draft resolution with a methodological annex, a historical TIM series in Excel, and a calculator to estimate interest and total amounts for a given principal and period. The consultation is open until 19 December and submissions are non-binding but will be considered during the review stage.
Central Bank of Argentina 2025-12-05
Central Bank of Argentina opens consultation on creating a Default Interest Rate for court-awarded late payment interest
The Central Bank of Argentina has initiated a public consultation on a draft regulation to establish the Tasa de Intereses Moratorios (TIM), a reference rate for determining late-payment interest under Article 768(c) of Argentina’s Civil and Commercial Code. TIM would be derived from the average of a passive rate and an active rate, with daily effective rates bounded by CER-linked bands. The consultation includes a draft resolution, historical TIM data, and a calculator.