What provisions of the revised Payment System Risk (PSR policy) become effective on March 26, 2009?
Two provisions concerning foreign banking organizations (FBOs) take effect on March 26, 2009. First, the Board has approved for certain FBOs an interim policy related to the calculation of the deductible amount from daylight overdraft fees (interim deductible). Second, the Board has approved an early implementation of the streamlined procedure for maximum daylight overdraft capacity (max cap) for eligible FBOs.
