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  • CA-1.3 CA-1.3 Guarantee Requirements

    • CA-1.3.1

      Licensees are required to provide the CBB with a guarantee in respect of their liabilities. The guarantee must be:

      a) In favor of and callable by the CBB at the CBB's sole discretion;
      b) Unconditional and irrevocable;
      c) Issued by a retail bank licensed by the CBB;
      d) Valid at all times for a period of one year; and
      e) Renewed at least one week before its expiry and submitted to the CBB.
      October 2010

    • CA-1.3.2

      If the guarantee is not renewed within the stipulated timeframe, the CBB may call the guarantee.

      October 2010