Regulatory Alerts2016-02-29 | 1/2Added · Updated
On Amendments and Additions to the Regulation on the Procedure for Issuing and Circulating Bank Deposit (Savings) Certificates
This document amends the Regulation on the Procedure for Issuing and Circulating Bank Deposit (Savings) Certificates, updating definitions and clarifying rules for cession. Cession for deposit certificates is now exclusively between legal entities, while for savings certificates it is exclusively between individuals. The amendments detail the formalization process for cession, requiring specific signatures and seals, and outline the bank's verification procedures for cessions when certificates are presented for payment. Additionally, certificate blanks must now include issuance and circulation conditions, and interest calculation must adhere to the Regulation on Interest Calculation in Commercial Banks.
More like this from CBU
We email you every new CBU publication the day it's published.