| Delayed 08:56:21 2024-05-09 am EDT | 5-day change | 1st Jan Change | ||
| 0.6137 EUR | +0.30% |
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+0.76% | -0.50% |
| 12:02pm | Banca Ifis reports profit up slightly in first quarter | AN |
| 11:59am | UniCredit: second tranche of share buyback program launched | CF |
LISBON (Reuters) - Portugal's government decreed on Thursday that banks will have to reduce the benchmark six-month Euribor rate used on mortgages by up to 30% over the next two years, so that families can better deal with rising interest rates and avoid default.
Portugal is one of the euro zone countries with the highest percentage of mortgages indexed to Euribor, or euro interbank offered rates, which have jumped along with the steep interest rates hikes by the European Central Bank.
The government said banks would be able to recover unpaid interest in subsequent years, starting within a four years' time, redistributing the respective payments until the mortgages mature. ($1 = 0.9377 euros)
(Reporting by Sergio Goncalves; editing by Andrei Khalip)
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Change
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5d. change
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Capi.
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|---|---|---|---|---|---|
| 1.162 EUR | -0.06% | -0.68% | - | ||
| 0.9296 EUR | -0.10% | -0.36% | - | ||
| 0.6783 EUR | +0.06% | -0.24% | - | ||
| 0.6136 EUR | +0.29% | +0.76% | - | ||
| 0.3341 EUR | +0.51% | -0.12% | 5.4B | ||
| 0.0111 EUR | -0.10% | -0.89% | - | ||
