Query to financial bods frequentiing the forum: AAA int. %

Can anyone tell me what the AAA rate of interest charged by the Associated Banks in Ireland is?
I need this information to figure out what the interest due on overdue management fees would be.

You might need to be more specific. I have never seen reference to such a thing, more normally a Libor/Euribor rate is used in financial contracts.

Could you mean commercial paper of some sort (e.g. 3 month commercial paper)?

aaa might be eriobor + 200 basis points ( euribor + 2% ) or something like that .

aa might then be euribor + 2.5% and a might be euribor + 3%

Here is the clause regarding the service charge/management fee as it appears in the leasehold agreement.

Pay interest at the rate of the 4 per cent per annum over the AAA rate of interest chaged by the Associated Banks in Ireland or if at the relevant time there shall be no AAA rate 4 per centum per annum over the corresponding or nearest appropriate rate thereto or if there shall be no such rate 15% per centum per annum on any such sum which is by any provision of this schedule or any other provisions of this Indenture made payable by the lessee to the lessor or the management company(as the case may be) on demand or at a specified rate such interest to run from the date of the said demand or the specified date as the case may be until the date of actual payment of the said sum and such interest at the rate aforesaid to be paid as well after as before judgement.

“… 4% over the little magic fairies interbank rate, or if no such rate exists, 15%:smiling_imp:

OK. so what is the interbank rate, where can I see it?
15%; if I could charge more I would. Our management fee is so low that nobody has an excuse not to make an effort to pay it. The people who have the most expensive cars in the Apartment Block are the ones who are dragging their heels while those who I know are most hard pressed paid well in advance.

Is it the overnight interbank rate? Or 3 month? Probably 3 month. I’ll be able to let you know either of these tomorrow. I think that currently the two large Irish banks can fund themselves at about 35 bps over 3 month euribor, but neither of these are AAA.