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What is the ceiling prescribed for ECB?

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Maneesh Maneesh
Answered on June 10,2020

The ceiling prescribed

  • For TC is benchmark rate plus 250 basis points spread
  • For ECB is benchmark rate plus 450 basis points spread

Benchmark rate in case of FCY ECB/TC refers to six-months London Inter-bank Offered rate (LIBOR) of different currencies or any other six-month interbank interest rate applicable to the currency of borrowing, for e.g., Euro Inter-bank Offered Rate (EURIBOR). Benchmark rate in case of Rupee denominated ECB/TC will be prevailing yield of the Government of India securities of corresponding maturity.

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