Rate of Charge and Burden Sharing Adjustments issued during:


SDR Interest Rate, Rate of Remuneration, Rate of Charge and Burden Sharing Adjustments

May 04, 2015

The rates used by the IMF to pay interest and levy charges for each financial quarter are shown here.

The SDR interest rate, calculated every week, is the primary rate from which other rates are derived. This rate is used to pay interest and levy charges on SDR holdings and SDR allocations, respectively.

The basic rate of remuneration is equal to the SDR interest rate. The basic rate of charge is equal to the SDR interest rate, plus a fixed margin that is set annually by the IMF Executive Board. Both rates are further adjusted under the burden sharing mechanism for the financial consequences of protracted arrears.

Members' remunerated reserve tranche positions are paid interest (remuneration) at the adjusted rate of remuneration. Charges on members' outstanding use of IMF credit are levied at the adjusted rate of charge.

SDR Interest Rate, Rate of Remuneration, Rate of Charge and Burden Sharing Adjustments 1

  
 
    Rate for

   Average Rate in

   Average Rate in

  
    Current Week

   Current Quarter

   Previous Quarter

  
    5/4/2015   5/1/2015   2/1/2015  
    5/10/2015   5/10/2015   4/30/2015  
 

SDR Interest Rate

   0.050   0.050   0.050  
   

 

          

Rate of Remuneration:

              

Basic Rate ²

   0.050   0.050   0.050  

Adjustment for deferred charges ³

   -0.005   -0.005   -0.005  
               

Adjusted Rate of Remuneration

   0.045   0.045   0.045  
               

Rate of Charge:

              

Basic Rate ²

   1.050   1.050   1.050  

Adjustment for deferred charges ³

   0.000   0.000   0.000  
               

Adjusted Rate of Charge

   1.050   1.050   1.050  
 

¹ Under the amended Rule T-1 (see Press Release), the SDR interest rate for each weekly period commencing each Monday is the higher of (i) the combined market interest rate, or (ii) 0.050 percent, rounded to three decimal places. The burden sharing adjustments are also rounded to three decimal places and any rounding differences are carried forward into future quarters. Previously, the SDR interest rate and the burden sharing adjustments were rounded to two decimal places.

  

² The basic rate of remuneration is the same as the SDR interest rate. For FY 2016 (May 1, 2015 - April 30, 2016), the basic rate of charge is equal to the SDR interest rate plus 100 basis points.

  

³ The adjustments for the current quarter are estimates only and are finalized after the end of the financial quarter (July 31, October 31, January 31 and April 30). Previous burden sharing adjustments to the rate of charge are sufficient to cover unpaid charges and therefore no adjustment is necessary for the quarter ended April 30, 2015.