As of 12:01 a.m. Washington D.C. time November 26, 2002, the fixed spread over LIBOR for IBRD fixed-spread loans (FSLs) was reduced by 0.05% to 0.50% for FSLs denominated in U.S. dollars and euros, and to 0.45% for FSLs denominated in Japanese yen. The new fixed spread will be applicable to FSLs signed on or after November 27, 2002, local time at the place of signing.