尊敬的客户：
为给您提供更加优质的服务，我行对现有的《非房屋抵押贷款条款》 （Standard Terms and Conditions Governing Facilities Not Secured by Mortgage of Residential Property and/or Commercial Property）进行了修订，并将于2022年3月7日起生效。具体修订内容如下：
Clause 2. Definitions and Interpretation
Clause 2.1 In these Conditions, the following expressions shall (except where the context otherwise requires) have the following meanings:
“Cost of Funds" or “COF” means the cost to the Bank of funding, in the relevant currency and for the relevant period, a utilisation of the relevant Facility by whatever means it determines to be appropriate (including without limitation the cost to the Bank occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements imposed on the Bank by the relevant authority or authorities).
Clause 38. Changes to the Calculation of Interest
38.1 Benchmark discontinuation event
If the Monetary Authority of Singapore (“MAS”) issues a public statement that includes one or more of the following:
a) the MAS has ceased or will cease to publish the Compounded SORA Rate permanently or indefinitely; or
b) the benchmark administrator has ceased to provide the Compounded SORA Rate permanently or indefinitely, then the Bank will, as soon as is practicable, notify you and while such event is continuing, the applicable Compounded SORA Rate shall be replaced with:
a) the replacement reference rate recommended by the MAS (or any successor benchmark administrator) and/or a working group or committee sponsored or chaired by, or constituted at the request of, the MAS;
b) if the replacement reference rate referred to in paragraph (A) above is not available, the Bank may, at its sole discretion, determine a replacement reference rate or revise the pricing in its absolute discretion, provided that the Bank shall provide at least 30 days prior notification to you of such replacement reference rate selected by the Bank or such revised pricing as determined by the Bank. Such notification shall be conclusive and binding on you. For the avoidance of doubt, the revised pricing and/or Prescribed Rate shall include among others, the aggregate of the margin, the Bank’s Cost of Funds (from whatever source it reasonably selects) and any mandatory cost.
38.2 Market Disruption
If a Market Disruption Event occurs in relation to the Facility for any interest period, then the Bank has the absolute discretion at any time upon notification (but without your consent) be entitled to revise or vary the rate of interest. Such notification shall be conclusive and binding on you.
For the purpose of this Clause 38:
“Market Disruption Event” means:
a) by reason of circumstances affecting the relevant interbank market generally, it is impracticable for the Bank to fund or continue to fund the Facility or any advance during any interest period;
b) by reason of circumstances affecting the relevant interbank market generally, the Bank determines that the cost to it of obtaining matching deposits in the relevant interbank market would be in excess of the relevant SIBOR, Compounded SORA Rate or LIBOR or other applicable benchmark rate(s);
c) adequate and fair means do not exist for ascertaining the interest rate for any interest period;
d) deposits are not available to the Bank in the relevant interbank market in sufficient amounts to fund the Facility (or any part of it) for any interest period;
e) the Screen Rate is not available or the Screen Rate is zero or negative; or
f) by reason of any circumstances whatsoever, the Bank in its sole discretion is of the view that its cost of funding or any other costs in relation to the funding of the Facility have increased or are likely to increase. For the avoidance of doubt, the revised rate of interest shall include among others, the aggregate of the margin, the Bank’s Cost of Funds (from whatever source it reasonably selects) and any mandatory cost.
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特此公告
中国银行股份有限公司新加坡分行
2022年2月7日
