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  • BR-3.2 BR-3.2 Branches of foreign banks

    • BR-3.2.1

      The content of this section is applicable to branches (licensed by the Agency) of foreign banks.

    • Prudential Information Returns

      • BR-3.2.2

        All branches, referred to under paragraph BR-3.2.1, are required by the Agency to complete PIRB forms (see Appendix BR 7) in accordance with guidelines set out under Appendix BR 4.

      • BR-3.2.3

        These should be submitted to the Agency no later than 20 calendar days from the end of the said quarter.

      • BR-3.2.4

        The Agency requires all banks to request their external auditors to conduct a review of the prudential returns on a quarterly basis. The results of such review (in the form of a return review report) should be submitted to the Agency no later than 60 calendar days from the end of the subject quarter. A bank may apply for exemption from this requirement provided that it meets the criteria set out under paragraph BR-3.2.5 below.

      • BR-3.2.5

        Banks which demonstrate to the satisfaction of the Agency that they have fulfilled all of the Agency's requirements with regard to Prudential Returns for at least two consecutive quarters may apply (in writing) to the Agency for an exemption from the review procedure set out in section AU-3.2.