Removal of ceiling on EEFC trade loans permits exporters to extend loans overseas subject to reporting and FEMA compliance. Authorised dealers may permit exporters to extend trade-related loans and advances to overseas importers from EEFC account balances without a ceiling, effective up to June 30, 2003 and subject to review, provided such transactions comply with the Foreign Exchange Management Regulations, 2000. Dealers must report these transactions quarterly, beginning with the quarter ending March 31, 2003, in the annexed format to the concerned Regional Office; amendments to the Regulations are being issued separately.