Until 31 July 1990 this was also the rate for cash advances. Until May 1956 lower rates likewise applied for foreign bills and export drafts; fixed special rates were charged for certain credits which had been granted to the Reconstruction Loan Corporation and which ran out at the end of 1958. Pursuant to the Discount Rate Transition Act, read in conjunction with the Regulation Governing the Use of the Base Rate as a Reference Variable, the base rate as per Discount Rate Transition Act replaces the discount rate from 1 January 1999 wherever the latter is used in contracts and regulations as a reference variable for interest and other payments. Wherever the base rate pursuant to the Discount Rate Transition Act is used as a reference variable for interest and other payments in Federal legislation (in the field of civil law and judicial procedural law), in state legislation (as stipulated in the Act Introducing the Civil Code) or in executory instruments and contracts based on such regulations, the base rate pursuant to the Discount Rate Transition Act has been replaced from 1 January 2002 by the base rate pursuant to section 247 of the Civil Code. Pursuant to Article 4, section 1 of the Act on the Amendment of Provisions concerning the Evaluation of Insurance Enterprises' Capital Investment, the Discount Rate Transition Act and the Regulation Governing the Use of the Base Rate as a Reference Variable have been repealed. Pursuant to Article 4 section 2 of the same Act, from 4 April 2002 the discount rate and the base rate under the Discount Rate Transition Act were replaced by the base rate pursuant to section 247 of the Civil Code.
