Recital 61

(61) In order to ensure full transparency, the consumer should be provided with information concerning the borrowing rate, both at the pre-contractual stage and when the credit agreement is concluded. During the contractual relationship, the consumer should, furthermore, be informed of changes to the variable borrowing rate and changes to the payments caused by those changes. This should be without prejudice to provisions of national law not related to consumer information which lay down conditions for, or prescribe the consequences of, changes, other than changes concerning payments, in borrowing rates and other economic conditions governing the credit, for instance rules providing that the creditor may change the borrowing rate only where there is a valid reason for such change or that the consumer may terminate the credit agreement should there be a change in the borrowing rate or in other specific economic conditions concerning the credit.

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Source: EUR-Lex CELLAR · retrieved 2026-07-30 · Text as adopted (Official Journal); later amendments are not incorporated in this text.