art_1__continuation__2 — Directive 98/7/EC of the European Parliament and of the Council of 16 February…

art_1continuation2

Directive 98/7/EC of the European Parliament and of the Council of 16 February 1998 amending Directive 87/102/EEC for the approximation of the laws, regulations and administrative provisions of the Member States concerning consumer credit · European Union

'The annual percentage rate of charge which shall be that rate, on an annual basis which equalizes the present value of all commitments (loans, repayments and charges), future or existing, agreed by the creditor and the borrower, shall be calculated in accordance with the mathematical formula set out in Annex II.`;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-22 · Text as adopted (Official Journal); later amendments are not incorporated in this text.