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)
References in periodicals archive ?
Furthermore, the TRAIN also doubled the tax on interest income in foreign currency deposit unit (FCDU) deposits to 15 percent from 7.
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.
The banking systems foreign currency deposit unit (FCDU) system exhibited asset expansion, stable funding from depositors and higher net profit.
The interest rate on Foreign Currency Deposit Unit FCDU deposits is around 0.
Allowing of the deposit by Philippine residents of FX purchased from banks for certain underlying transactions (such as for travel abroad and payment of certain obligations to non-residents) into their Foreign Currency Deposit Unit (FCDU) accounts, prior to outward remittance to the intended non-resident beneficiaries.
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;
The country's outstanding foreign currency deposit unit (FCDU) loans increased by 4.
The Bangko Sentral ng Pilipinas (BSP) yesterday reported that banks' outstanding foreign currency deposit unit (FCDU) loans increased 8.
He noted that when the bank secrecy act was enacted years ago and applied to the foreign currency deposit unit (FCDU) framework, there were certain reasons for it.
On bank secrecy laws, BPI executive vice president Simon Paterno said the local foreign currency deposit unit (FCDU) - created in the 1980s during the country's debt crisis years where foreign exchange was scarce - was the most protected in terms of deposit secrecy laws.
Any cost or expense related to or incurred in the operation of the foreign currency deposit unit (FCDU)/expanded FCDU or offshore banking unit is not allowed as deduction from the RBU's taxable income.
Any cost or expense related to or incurred in the operation of the foreign currency deposit unit (FCDU)/expanded FCDU (EFCDU) or offshore banking unit (OBU) is not allowed as deduction from the RBU's taxable income.
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