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  • Interest rates

    • BC-4.2.8

      The interest rates on Certificates of Deposit may be freely agreed between banks and their counterparties at the time of issue.

    • BC-4.2.9

      Interest may be payable by agreement at a fixed or floating rate. In the case of a floating interest rate, the formula for revising the rate must be specified at the time of issue.

    • BC-4.2.10

      Interest may be payable at maturity or on earlier dates specified at the time of issue.

    • BC-4.2.11

      As an alternative to paying interest, Certificates of Deposit may be issued (like Treasury bills) at a discount to their face value (the repayment amount).

    • BC-4.2.12

      Interest and discounted values should be calculated on the basis of a 360 day year.