Este trabajo analiza los preceptos que el Draft Common Frame of Reference dedica al anatocismo y los compara con su regulación actual del Derecho español. Partiendo del concepto de anatocismo, se examina cómo ha sido tratado con disfavor a lo largo de la historia, cómo se consagró legislativamente y cuáles son las tendencias europeas en su regulación. Se parte, además, de la naturaleza estrictamente moratoria de los intereses anatocísticos, pues su función es indemnizar el lucro cesante derivado de la indisponibilidad de los intereses simples por parte del acreedor y no castigar el deudor moroso. Dentro del Derecho español, se distingue la regulación civil y la regulación mercantil y, en ambas, el anatocismo legal y el convencional. Se resaltan las cuestiones más problemáticas de la figura, como la exigencia de reclamación judicial, los intereses susceptibles de devengar intereses anatocísticos, el tipo de interés aplicable, las tres fórmulas anatocísticas y el requisito de que se trate de intereses vencidos. A continuación, tras la exposición de la regulación en el Draft Common Frame of Reference se elaboran una serie de conclusiones comparativas para mejorar su tratamiento normativo.

Keywords. anatocismo, anatocismo convencional, anatocismo legal, capitalización de los intereses, deuda pecuniaria, indisponibilidad del capital, interés, interés compensatorio, interés convencional, interés correspectivo, interés legal, interés moratorio, interés remuneratorio, intereses compuestos, intereses de intereses, intereses impagados, intereses simples, lucro cesante, mora, periodo de vencimiento, tipo de interés, usura

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Anatocism, Spanish Law and Draft Common Frame of Reference

This paper analyzes the articles of the Draft Common Frame of Reference on anatocism and compares them with the current Spanish regulation. This paper examines how the concept of anatocism has been disfavored throughout history, how it was initially regulated and which have been the European regulatory trends on this issue. The starting point of the analysis is that the nature of anatocism interests – compound interests – is moratorium given that their main function is to compensate the creditor for the profits lost as a result of the debtor’s default in the payment of interests he was entitled to and not to punish the defaulting debtor. Spanish law distinguishes between civil and commercial regulation and further between legal and conventional anatocism. This paper presents the most controversial aspects of this figure, analyzes the requirement of judicially claiming, the interests accrued from overdue interests as well as the applicable interest rate, the three formulas available for calculating such interests and requirements of such interests to have been already accrued. After presenting the regulation included in the Draft Common Frame of Reference, comparative conclusions to improve the regulation of compound interests are presented.

Keywords. Anatocism, Compensatory Interest, Compound Interests, Conventional Anatocism, Conventional Interest Rate, Default, Default Interests, Deprivation of Due Benefit, interest, Interest Capitalization, Interest Due as Compensation, Interest Due Date, Interest on Interests, Interest Rate, Interests for Default Payment, Legal Anatocism, Legal Interest Rate, Loss of the Use of Money, Monetary Debt, Moratory Interest Rate, Simple Interests, Usury