Clifford Chance
IRPH: the ECJ does not make a statement on the abusive nature of the interest clause, but points out its criterion on this issue
6 March 2020
On 3 March 2020, the ECJ published its decision in relation to the preliminary question referred by a Barcelona Court in relation to the abusive nature of an interest rate linked to the IRPH (Mortgage Loan Reference Index) for Savings Banks.
Although the judgment maintains the framework defined by the Supreme Court in past judgments, it does qualify it somewhat.
