FCDU

(redirected from Foreign Currency Deposit Unit)
AcronymDefinition
FCDUFederação Catarinense do Desporto Universitário (Portuguese: Santa Catarina State University Sports Federation; Brazil)
FCDUForeign Currency Deposit Unit (bank license; The Philippines)
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References in periodicals archive ?
And it is true that foreign currency deposit unit (FCDU) and offshore banking unit (OBU) exemptions alone could not deliver the original intention of the legislators to use these to one day develop the Philippines as the financial center of Asia.
These include the following: (a) BSP-reported/registered short-term (ST) trade-related loans from eligible banks; (b) medium or long-term trade-related FCDU (foreign currency deposit unit) or RBU (regular banking unit) loans with payments maturing within 90 days as of date of application; (c) ST trade-related borrowings of oil companies from offshore banking units (OBUs); and (d) US dollar trust receipts, among others.
48 percent of the total foreign currency deposit unit (FCDU) loans of the banking industry.
He said "some banks" with lending to Hanjin "relative to both total loans of the banking system and total FCDU (foreign currency deposit unit) loans...
It has a foreign currency deposit unit license and has US dollar deposit facilities and products and accredited licenses for checking accounts, social security system (SSS) direct pension deposits, automatic payroll-deduction system of the Department of Education and microinsurance.
Furthermore, the TRAIN also doubled the tax on interest income in foreign currency deposit unit (FCDU) deposits to 15 percent from 7.5 percent.
The interest rate on Foreign Currency Deposit Unit FCDU deposits is around 0.5%, Philippine government dollar bond due 2021 carry a 4% coupon while Ayala Corp.
Under the new amended rules, these no longer require prior BSP approval: the conversion of foreign currency loans granted by banks to peso loans; and transfer of such loans, as well as Real and Other Properties Acquired from banks' foreign currency deposit unit books to the Regular Banking Unit books.
Guinigundo said the following rules will no longer require prior BSP approval: the conversion of foreign currency loans granted by banks to peso loans; and transfer of such loans, as well as Real and Other Properties Acquired from banks' foreign currency deposit unit books to the Regular Banking Unit books.
They must have attended the Dollar Denominated Securities (DDS) training session or seminar conducted by the PSE; must be operationally ready to trade the DDS and shall issue a sworn certification to the PSE attesting to its operational readiness; maintain a US deposit account or foreign currency deposit unit and a separate US dollar settlement account for clearing of trades;
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