Description:

Includes the handling of currency (i.e. money used in a particular country) and/or currency equivalents.

Appears in:

• Acquisition Leveraged Finance
• Borrowing Base Facility
• Certificate of Deposit (Broker Acting as Principal)
• Certificate of Deposit (Broker Acting on Behalf of Client)
• Certificate of Deposit (Direct Interaction with Clients)
• Commodity Option
• Commodity Swap
• Credit Facility
• Currency Swap
• Deposit
• Deposit (Direct with Client)
• Deposit (via Broker)
• Discounting of Receivables With or Without Recourse
• Documentary Collections (Export)
• Documentary Collections (Import)
• Dual Currency Deposit (DCD)
• Equity Issuance and Services
• Equity Option
• Exotic FX Option
• Exotic Interest Rate Option
• Export Credit Agency Cover
• FX Option
• FX Prime Brokerage (Continuous Linked Settlement)
• FX Prime Brokerage (Non-Continuous Linked Settlement)
• FX Spot
• FX Swap
• Hedge Fund Derivatives
• Import Guarantee (Standby Letter of Credit)
• Index Option
• International Services
• Inventory Financing
• Letter of Credit and Guarantee Syndication
• Liquidity Support Facility
• Multi-Product Facility
• Non-Deliverable Forward
• Option
• Option On Futures
• Overdraft Facility
• Performance Bond
• Precious Metals Spot Trade
• Repo or Reverse Report (Buy Sell Back or Sell Buy Back)
• Revolving Credit Facility (Bilateral Agreement)
• Revolving Credit Facility (Syndicated)
• Securities Lending and Borrowing
• Standby Facility
• Swaption
• Total Return Swap

Addressed by:

• Currency Defined in Agreement or Contract: A product or service requires entering into a legally binding agreement or contract between specified parties that defines the currency to be used.
• Documentary Evidence to Identity Parties and Details of Transaction: Agreement supported by underlying documentation (i.e., bills of lading, invoices, shipping documents, warehouse receipts, and warrants) that contains details of all parties to the transaction, currency, value, all countries involved, and the purpose of the transaction.
• Documentary Evidence to Support Conditions of Agreement Met: Agreement supported by underlying documentation (bills of lading, invoices, shipping documents, warehouse receipts, and warrants) containing details of all parties involved in the transaction, currency, value, all countries involved, the purpose of the transaction, and allowing payment only when all conditions outlined in the terms of the instrument have been met.
• Know Your Business (KYB): Includes taking steps to gain an understanding of a customer's business activities, including the nature of the business to be taken with a bank and the anticipated volume and value of the business.
• Restricted to Regulated Firm: Restrictions on the types of customers (regulated Financial Institutions) to whom the product can be offered.
• Traded on Regulated Exchange: Traded on a regulated exchange in a low-risk jurisdiction.