Order Concerning Interest Rate Determination (GO-2013-05)

Effective this date, 4 April 2013, the Royal Bank of Commerce (RBC) under the power vested by article 28 paragraph (iii) of the Currency, Exchange and Banking Act hereby determines the following rates of interest to apply to the respective services of the RBC:

A. The interest rate applicable to overdraft accounts held by the Royal Government shall be 3 per cent per annum.

B. The interest rate applicable to overdraft accounts held by licenced banks in the Kingdom shall be 4.2 per cent per annum.

C. The interest rate applicable to overdraft accounts held by any other entity shall be 4.8 per cent per annum.

Per: Sir Ross Kilder Governor, Royal Bank of Commerce

CONSOLIDATION NOTES

Proclamation: 2013-04-03

Status: In-Force.

Status Date: 2017-12-15