Rules - General Credit Regulations

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In the process of credit analysis and decision-making, the rendering of strong comfort letters using a BCP draft (Letters and Drafts Manual) is considered equal to an aval.

The release/reduction of guarantees shall pertain to Level 1/1B as long as the fulfilment of the conditions approved (including the coverage degree) continues. If there are no liabilities at all the decision will be taken by the Local Level.

The replacement and change of guarantees given as a surety shall pertain to the Level that authorised the operation.