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FX Swap

Product Name

FX Swap

Product Manual

FX Swap refers to the two transactions, including a FX Spot and a reverse FX Forward.

Product Features

1.It can help clients to lock in exchange rate / interest rate risk, matching the future cash flow of two foreign currency assets / liabilities,in order to meet the needs of business operations.

2.The Bank is able to deal in USD, EUR, HKD, GBP, RMB and other major currencies on behalf of clients.

Interest Rate

The interest Rates of FX Swap are based on the market interest rates and adjusted on the interbank lending rates.

Dealing Period

The Bank can provide FX Swap with the standard or non-standard term

For the process

1.Opening an account: The client applying for Swap FX dealing should open a current account in the bank, and generally need open a guaranteed deposit account at the same time.

2.Signing an agreement: Prior to the transaction, the client must conduct MIFID test and sign related MIFID documents, ISDA master agreement and Customer FX Transaction Application.

3.Collecting the guaranteed deposit: the client need to pay a corresponding proportion of the guaranteed deposit, or the corresponding credit line of the client need to be reduced by the Bank.

4.Applying the transaction: The client confirms the details of the Swap FX transaction in writing.

5.Conclude a transaction: Once the transaction is completed, the bank will send the transaction confirmation letter in writing to the client.

6.Settlement: the bank and client carry out the actual delivery of funds on the delivery date. Customers may also need to apply for the early or delayed delivery, or Offset Square Liquidate (Do a reverse hedging transaction).

Applicable clients

The client has a hedge need against two cash flow risks of two foreign currencies.

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