Regulatory AlertsBanks and Trust Companies (Non-negotiable Certificates of Indebtedness) Order (Revised 2020)
The Financial Services Commission of the Virgin Islands issues this Order to regulate non-negotiable certificates of indebtedness required for banking and trust licenses. The regulations mandate that these certificates bear interest rates determined by the Commission and have maturity terms between six months and twenty years. Furthermore, the Order specifies that certificates are only negotiable with the Commission and may be refinanced upon maturity with mutual agreement.
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