Article 8
Calculation of the weighted average annual interest rate
1. For the calculation of the weighted average annual interest rate on loans in a portfolio as referred to in Article 6(4), point (b), of Regulation (EU) 2020/1503, crowdfunding service providers shall calculate the average, weighted for the outstanding amount of loans in a portfolio, of the annual interest rate of every loan of which the portfolio is composed.
2. In order to calculate the weighted average annual interest rate referred to in paragraph 1, crowdfunding service providers shall ensure all of the following:
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(a) |
that the denominator consists of the sum of the notional amount of every loan included in the portfolio; |
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(b) |
that the numerator consists of the sum of the products of:
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3. For the purposes of paragraph 2, point (b)(ii), the annual interest rate shall correspond to any of the following:
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(a) |
in the case of a fixed interest rate, the annual interest rate as laid down in the loan contract; |
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(b) |
in the case of a variable interest rate, the interest rate in force at the time of the publication of the weighted average annual interest rate, taking into account any upper limit as laid down in the loan contract; |
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(c) |
in cases in which the loan is split into tranches earning different interest rates, the weighted average of the interest rates as laid down in the loan contract. |