April 9, 2012

Change in the Maturity of Placements in the Reserve Deposit Account Facility

In connection with Resolution  No. 475 of the Monetary Board, please be advised of the following amendments on the provisions of CL 539 of August 2006 and CL 551 of November 2006.   The amendments are as follows: All new deposits in the reserve deposit account (RDA) facility shall be given a maturity date of …

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Clarification on Secured loan and borrowing accommodation

For your information and guidance,  kindly refer to the provisions of item K.1 of Subsection X326.1 of the Manual of Regulations for Banks on the definition of secured loan, borrowing or other credit accommodation, as follows: k. Secured loan, borrowing or other credit accommodation shall refer to any loan or credit accommodation or portion thereof …

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