Regulatory Alerts2014-01-26
Added
Form of General Conditions for Managing Accounts
The Supervisor of Banks requires banks to ensure that new customers signing a unified form of General Conditions for Managing Accounts are not burdened with unnecessary commitments or increased fraud risks. Banks must implement one of two specific methods: either dividing the form into separate sections for different service types with individual signatures, or listing all services in an appendix that the customer signs and initialing the specific service section. This circular, effective on the day of its publication, replaces Circular No. 1881-06 dated August 3, 1997.
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