DCW Monthly: June 2026
A letter of credit is built on a simple promise: the bank pays on a complying demand, and the underlying
The US Office of the Comptroller of the Currency (OCC) issued its final rule containing amendments to its financial guarantee rule. Full text of the rule was published on 24 April 2008 in the US Federal Register and is available.
It appears that the proposed new guarantee rule previously reported in DCW (Jul/Aug 2007, p. 13) became final without significant change.
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