Guideline for the Notification of New or Materially Different Banking Products

[LOGO] CENTRAL BANK OF TRINIDAD & TOBAGO

Ewart S. Williams Governor

May 14, 2012

CIRCULAR LETTER TO ALL INSTITUTIONS LICENSED UNDER THE FINANCIAL INSTITUTIONS ACT, 2008

REF: CB-G-61/12

Guideline for the Notification of New or Materially Different Banking Products

The Central Bank of Trinidad and Tobago (the Central Bank) wishes to advise that the Guideline for the Notification of New or Materially Different Banking Products has been finalized for issue, effective May 14, 2012.

The key objectives of this Guideline are to provide guidance to licensed financial institutions (licensees) on what constitutes a new or materially different banking product, and to clarify the process to be followed when submitting these products for the Central Bank’s review. All licensees are expected to review the Guideline and take the necessary steps to implement the procedures contained therein within the shortest possible timeframe and at the latest within six (6) months of the issue date of this Guideline.

The Guideline can be viewed on the Central Bank’s website at http://www.central-bank.org.tt/content/legislation-guidelines-and-letters. Should you require any further clarification, you are advised to submit your questions in writing to:

Mrs. Michelle Francis-Pantor Manager, Policy & Market Conduct Unit Financial Institutions Supervision Department Central Bank of Trinidad and Tobago Eric Williams Plaza, Independence Square Port of Spain

The Central Bank wishes to place on record its appreciation for the role you played in the process which led to the finalization of this Guideline.

We look forward to your usual cooperation.

Yours sincerely

[Signature]

Ewart S. Williams

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Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 625-4835; 5028; *Telex: 22532; 22386 *Fax: (868) 623-1955