Amendments to the product terms and conditions of SEB’s private loan agreements
On 11 August 2020, an amendment will enter into force in the product terms and conditions of SEB’s private loan agreements. As a result of the amendment, the definition of Euribor will be changed in the product terms and conditions of private loan agreements (clause 32).
On 11 August 2020, an amendment will enter into force in the product terms and conditions of SEB’s private loan agreements.
As a result of the amendment, the definition of Euribor will be changed in the product terms and conditions of private loan agreements (clause 32) as follows:
Euribor is the interest rate for the relevant period, currently administrated by the European Money Markets Institute (EMMI) and disclosed on its website. Euribor is displayed on the bank’s website and applicable Euribor is published in the client’s internet bank.
The need to amend the definition of Euribor arises from an amendment with which the European Money Markets Institute has harmonised the calculation principles of Euribor with Regulation No. 2016/1011 of the European Parliament and of the Council.
The updated product terms and conditions of private loan agreements can be reviewed in all branch offices of SEB and on our website.
If you accept the amendment, you do not need to take any further action: your agreement(s) will be subject to the new terms and conditions as of 11 August 2020. If you do not agree to the amendment in the terms and conditions, you have the right to terminate the agreement(s) with the bank by no later than 10 August 2020.
