PCD-4.1.3

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The CBB requires any Bahraini conventional bank licensee associated with an SPV to confirm the following points in any request for approval under Paragraph PCD-4.1.2:

(a) The purpose of the SPV;

(b) The nature of the relationship between the Bahraini conventional bank licensee and the SPV (i.e. originator, sponsor, manager, investor, controller etc.);

(c) The proposed consolidation/accounting treatment of the SPV in relation to the Bahraini conventional bank licensee both for the PIR and the audited financial statements' purposes as agreed with its external auditor;

(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 2014
Amended: April 2011
October 2010