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LR-1.3.12

For example, an industrial company entering into an interest rate swap to switch floating-rate borrowings for fixed rate borrowings, in order to manage interest rate risk, would not be considered to be dealing in financial instruments as principal, and would not therefore be required to be licensed as a conventional bank.

Amended: October 2010
October 2007
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(2 Versions)
 
Apr 1 2008 - Sep 30 2010Oct 1 2010 onwards
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