Interest Rates
BC-4.2.8
The interest rates on
Certificates of Deposit may be freely agreed between banks and theircounterparties at the time of issue.October 07BC-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.
October 07BC-4.2.10
Interest may be payable at maturity or on earlier dates specified at the time of issue.
October 07BC-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).October 07BC-4.2.12
Interest and discounted values should be calculated on the basis of a 360 day year.
October 07
