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

February 25, 2013

The rates used by the IMF to pay interest and levy charges 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 members SDR holdings and SDR allocations, respectively.

The basic rate of remuneration is equal to the SDR interest rate. The basic rate of charge is also equal to the SDR interest rate, plus a margin. Additional burden sharing adjustments, for the financial consequences of protracted arrears, are also applied to both the basic rate of remuneration and the basic rate of charge.

The adjusted rate of remuneration is used to pay interest (remuneration) to members on their remunerated reserve tranche position with the Fund. The adjusted rate of charge is applied to charge members on their outstanding credit to the Fund.

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

 

 
      Rate for   Average Rate in   Average Rate in  
      Current Week   Current Quarter   Previous Quarter  
      2/25/2013   2/1/2013   11/1/2012  
      3/3/2013   3/3/2013   1/31/2013  

 

SDR Interest Rate

        0.11         0.09         0.07  
               

Rate of Remuneration:

             
Basic Rate 1/       0.11         0.09         0.07  
Adjustment for deferred charges 2/       -0.01         -0.01         -0.01  
                 
Adjusted Rate of Remuneration       0.10         0.08         0.06  
                 

Rate of Charge:

             

Basic rate 1/

      1.11         1.09         1.07  

Adjustment for deferred charges 2/

      0.01         0.01         0.01  
                 

Adjusted Rate of Charge

      1.12         1.10         1.08  

 

1/ The rate of remuneration is the same as the SDR interest rate. For FY 2013 (May 1, 2012 - April 30, 2013), the rate of charge is equal to the SDR interest rate plus 100 basis points.

 

2/ The rate of remuneration and the rate of charge are further adjusted for the financial consequences of protracted arrears under the burden sharing mechanism. 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). The burden sharing adjustments are rounded to two decimal places and any rounding differences are carried forward into future quarters. For the quarter ended January 31, 2013, the cumulative burden sharing adjustments carried forward were not sufficient to cover unpaid charges subject to burden sharing, and thus result in an adjustment for the quarter.