DDI_WLD_2019_IRC_v01_M_WB Development Data Group 2020-10-30 Metadata Editor Version 01 WLD_2019_IRC_v01_M Survey on Interest Rate Controls 2019 IRC 2019 World Bank Group - Finance, Competitiveness and Innovation Global Practice Pietro Calice Federico Diaz Kalan Oliver Masetti FIRST Initiative Metadata Editor Pietro Calice Federico Diaz Kalan Oliver Masetti Version 1.0 The interest rate controls presented in this dataset were in effect in 2019. Albania Algeria Anguilla Antigua and Barbuda Argentina Armenia Australia Azerbaijan Bangladesh Belgium Benin Bermuda Bosnia and Herzegovina Bolivia Brazil Bulgaria Burkina Faso Canada Chile China Colombia Costa Rica Côte D'Ivoire Croatia Cyprus Czech Republic Dominica Dominican Rep Ecuador El Salvador Estonia Ethiopia Finland France Georgia Germany Ghana Grenada Guatemala Guernsey Guinea-Bissau Guyana Hong Kong, SAR Iceland India Indonesia Iraq Israel Italy Jamaica Japan Jersey Jordan Kenya Kosovo Kyrgyz Republic Latvia Lebannon Liechtenstein Lithuania Macao, SAR Malaysia Mali Malta Marshall Islands Mauritania Mauritius Moldova Montserrat Morocco Netherlands New Zealand Nicaragua Niger North Macedonia Norway Pakistan Panama Paraguay Peru Philippines Portugal Qatar Romania Russia San Marino Senegal Serbia Seychelles South Africa Spain Sri Lanka St. Kitts And Nevis St. Lucia St. Vincent And The Grenadines Sudan Sweden Thailand Togo Ukraine United Kingdom United States Uruguay Uzbekistan Vietnam Zambia Global Survey, covering 108 countries, representing 88 percent of global GDP. Regulation at the national level. Banking supervisors and Local Banking Associations. Sample survey data [ssd] The data cover such aspects of interest rate controls as types of controls, legal basis, intended objectives, methodologies, and enforcement rules. Mail Questionnaire [mail] Not every country responded to the survey. Also, officials from the same country or even the same agency sometimes provided conflicting answers. The team followed up with the authorities that had provided inconsistent or incomplete responses. For a few countries, answers were provided by World Bank Group financial sector experts. In addition, in an attempt to reconcile any inconsistencies, the team checked the responses with Ferrari et al. (2018); with the 2017 Global Financial Inclusion and Consumer Protection Survey (GFICPS 2017); and with Reifner et al. (2010). The edition effort gave preeminence to citations to laws and regulations, creating a repository for these as a complement to the survey. World Bank Microdata Library Public Use Files calice_diazkalan_masetti_irc.dta 133 12 .dta Interest Rate Repression Data ISO country code 133 Full country name 133 Type of interest rate control 88 45 1 4 1 Deposit rate cap 11 2 Deposit rate floor 25 3 Lending rate cap 51 4 Lending rate floor 1 Sysmiss 45 Financial institutions affected by IRC 133 45 Commercial banks 15 Commercial banks / Cooperative banks 4 Commercial banks / Cooperative banks / Financing companies 3 Commercial banks / Cooperative banks / Financing companies / Microfinance institutions 5 Commercial banks / Cooperative banks / Savings banks 6 Commercial banks / Cooperative banks / Savings banks / Financing companies / Microfinance institutions 18 Commercial banks / Cooperative banks / Savings banks / Microfinance institutions 1 Commercial banks / Cooperative banks / Savings banks / Financing companies 1 Commercial banks / Financing companies 3 Commercial banks / Microfinance institutions 22 Commercial banks / Savings banks / Financing companies 2 Commercial banks / Savings banks / Microfinance institutions 1 Commercial banks / Cooperative banks / Microfinance institutions 1 Cooperative banks / Financing companies 2 Financing companies 1 Financing companies / Microfinance institutions 1 Microfinance institutions 2 Lending/deposit products subject to IRC 133 45 All business loans / All retail loans 30 All business loans / Retail: consumer loans / Retail: resid. real estate 1 All deposits 18 All retail loans 5 Business: agricultural loans / Retail: resid. real estate / Retail: microcredit 1 Business: com. real estate / Business: agricultural loans 1 Business: working cap loans / Business: term loans / Business: agricultural loans / Retail: resid. real estate / Retail: small business loans / Retail: microcredit 1 Certificates of deposits 1 Certificates of deposits / Other accounts 1 Retail: consumer loans 1 Retail: consumer loans / Retail: credit card loans 1 Retail: consumer loans / Retail: credit card loans / Retail: microcredit 2 Retail: consumer loans / Retail: credit card loans / Retail: resid. real estate 1 Retail: consumer loans / Retail: microcredit 2 Retail: consumer loans / Retail: resid. real estate 1 Retail: consumer loans / Retail: small business loans / Retail: microcredit 1 Retail: consumer loans / Retail: credit card loans / Retail: microcredit 1 Retail: credit card loans 1 Retail: microcredit 1 Retail: small business loans / Retail: microcredit 1 Savings accounts 11 Savings accounts / Certificates of deposits 2 Savings accounts / Deposit: other accounts 3 Methodology for determining IRC: Fixed, Relative (market, policy, adm. rate) 88 45 1 4 1 Absolute 56 2 Relative: administrative rate 10 3 Relative: central bank rate 7 4 Relative: market rate 15 Sysmiss 45 Currency denomination of IRC 88 45 1 2 1 All 21 2 Local 67 Sysmiss 45 Basis of IRC regulation: Regulation; Primary legislation; Court decision 133 45 Court decision 1 Primary legislation 56 Regulation 31 Reference to the country basis of IRC regulation 133 Limits on fees associated with IRC 88 45 1 2 1 No 42 2 Yes 46 Sysmiss 45 Sanctions and enforcement mechanisms 133 45 Administrative sanctions 37 Administrative sanctions / Automatic substitution of contractual provisions 5 Administrative sanctions / Criminal sanctions 2 Administrative sanctions / Criminal sanctions / Automatic substitution of contractual provisions 4 Automatic substitution of contractual provisions 4 Criminal sanctions 9 Voidance/invalidity of contracts 2 Voidance/invalidity of contracts / Administrative sanctions 10 Voidance/invalidity of contracts / Administrative sanctions / Automatic substitution of contractual provisions 2 Voidance/invalidity of contracts / Administrative sanctions / Criminal sanctions 7 Voidance/invalidity of contracts / Administrative sanctions / Criminal sanctions / Automatic substitution of contractual provisions 5 Voidance/invalidity of contracts / Criminal sanctions 1 Basis of IRC regulation: Regulation; Primary legislation; Court decision 88 45 1 3 1 Court decision 1 2 Primary legislation 56 3 Regulation 31 Sysmiss 45