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  • PD-4.2 PD-4.2 Disclosure of base rate of interest on overdrafts and short-term loans

    • PD-4.2.1

      The content of this section is applicable to all FCBs licensed by the Agency.

    • PD-4.2.2

      The Agency requires all FCBs to display, by a conspicuous notice, their base rate of interest on BD overdrafts and short-term revolving facilities to commercial customers. For a definition of 'conspicuous notice', refer to section PD-4.1.

    • PD-4.2.3

      FCBs are left free to decide their own base rate and to make changes to it as they consider appropriate.

    • PD-4.2.4

      FCBs must display a list of current charges including any standard charges and commissions that will be applied by the bank to individual services and transactions. See section BC-4.1 for further details.