The objective is to ensure an orderly transition in the use of determined reference rates as well as to accelerate the adoption process of the TIIE funding in the different markets.
The TIIE funding rate has all the necessary elements to be considered a reference rate that meets international standards, the central bank said.
What is the TIIE funding?
The TIIE funding rate is the rate that banks must pay the next day when they request loans from other banks overnight. It is the reference for financial products such as: credit cards, mortgage loans, personal loans, among others.
The TIIE funding rate aims to provide greater transparency and knowledge of the rate that will have to be paid when a person applies for consumer credit.
