PETRONAS IFGDC Guideline

In the event, OPU adopts Mode 2 for PETRONAS IFGDC Guideline, what is the expectation for the establishment of OPU governance document?   

• OPU shall develop their own governance document, at minimum Level 3 or equivalent.

• OPU is not expected to develop their own governance documents.

• OPU to develop own governing document exactly as per the PETRONAS IFGDC Guideline.

Which of the following is NOT an acceptable IFGDC instrument issued by Financial Institutions?

• Bank Guarantee (BG)

• Letter of Credit (LC)

• Standby Letter of Credit (SBLC)

• Personal Guarantee

What must be done if the Issuing/Confirming Bank does not meet the acceptability criteria for an IFGDC? Select which one is a False statement.

• Proceed with the bank without any changes

• Request for a different bank that meets the criteria to issue/confirm/the IFGDC

• Request for a different bank that meets the criteria to counter-guarantee the IFGDC

• Request for Exception from the Approving Authority in consultation with TF, GCF and FRM, GRM​

How often must OPU/BD/CD report IFGDC exposures to FRM and GRM?

• Weekly

• Monthly

• Quarterly

• Manually

Under what circumstances should the IFGDC be confirmed/counter guaranteed by another bank that meets the criteria and is operating in a country with a risk rating of ‘Moderate’ or lower (regardless of its tenor).

• The country risk of the issuing bank is rated as ‘Low’

• The country risk of the issuing bank is rated as ‘High’ or ‘Very High’

• The Parent of the issuing back is in a country rated as ‘High’.

• There are cross border transactions involving different currencies