Amendments to the Usury Law on Interest Rates

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PRESIDENTIAL DECREE NO. 116: Amendments to the Usury Law on Interest Rates

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Title Supreme Court: Amendments to the Usury Law on Interest Rates

Law: Presidential Decree No. 116

Decision Date: Jan 29, 1973

Presidential Decree No. 1684 amends The Usury Law to ensure gradual implementation of changes in interest rate ceilings, allowing for adjustments that benefit both creditors and debtors, while authorizing the Monetary Board to prescribe maximum rates of interest for loans based on prevailing economic and social conditions.

amending act

usury law

presidential decree

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