OpenLegislation

Division (14)

United Kingdom

Original text. Later amendments are not shown.

Granting loansf1 to enable borrowers to purchase shares or hybrid instruments of the Bank and other banksf2 shall be prohibited, whoever are those borrowersf3. This provision shall apply and shall be monitored at the Bank’s level.

Annotations

Footnotes

f1

For the purpose of that Commitment, the term ‘loans’ shall be interpreted largo sensu, as any kind of financing, e.g. credit facility, guarantee, etc.

f2

For clarification, ‘other banks’ refer to any bank — financial institution in the world.

f3

For clarification, all borrowers, including the Bank’s private banking clients are covered by that Commitment.