Overseas foreign currency borrowing limit doubled for authorised dealer banks to expand permitted access to overseas funds. Authorised Dealer Category I banks may borrow overseas in foreign currency from their Head Office, overseas branches and correspondents and take overdrafts in nostro accounts up to 50 per cent of unimpaired Tier I capital as at the close of the previous quarter or USD 10 million (or its equivalent), whichever is higher; specified borrowings for export credit, subordinated debt as Tier II capital, innovative perpetual debt instruments and those with specific approval remain outside this limit.
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Overseas foreign currency borrowing limit doubled for authorised dealer banks to expand permitted access to overseas funds.
Authorised Dealer Category I banks may borrow overseas in foreign currency from their Head Office, overseas branches and correspondents and take overdrafts in nostro accounts up to 50 per cent of unimpaired Tier I capital as at the close of the previous quarter or USD 10 million (or its equivalent), whichever is higher; specified borrowings for export credit, subordinated debt as Tier II capital, innovative perpetual debt instruments and those with specific approval remain outside this limit.
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