Kifid rules on revolving credit for individual retail client

Kifid ruled that ABN AMRO must calculate whether the floating interest rate on this client’s credit facility remained sufficiently in line with the market rate. If this is not the case, the bank may have to repay the excess interest paid. ABN AMRO is examining the ruling, after which it will respond.

The Kifid ruling including information about the positions taken can be viewed on www.kifid.nl.