PCD-4.1.3
Past version: Effective from 01 Apr 2011 to 31 Mar 2014
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The CBB requires any locally incorporated bank associated with an SPV to give the background to the following points in any notification under Paragraph PCD 4.1.2:
(a) The purpose of the SPV;
(b) The nature of the relationship between the bank and the SPV (i.e. sponsor, manager, investor, controller etc.);
(c) The external auditor's proposed consolidation/accounting treatment of the SPV;
(d) The availability of financial and other information relevant to the SPV and access to its business premises and records; and
(e) Whether the bank is providing any guarantees, warranties or financial/liquidity support of any kind to the SPV.
Amended: April 2011
October 2010
October 2010