Customer Notice about the Full Deposit Guarantee Provided by the Macao SAR Government

With effect from 14 October 2008 until 31 December 2010, the Deposit Guarantee (the Guarantee) provided by the Macao SAR Government guarantees the full payment of non-bank customer deposits held with banks authorized under the Financial System Act of Macao (FSA) approved by Decree-Law no. 32/93/M, excluding customer deposits held with offshore banks.

Being one of the local banks under this scheme, customers’ savings, demand and time deposits denominated in Patacas and other foreign currencies held with BCM bank are protected by the Guarantee. Interest accrued on a protected deposit is also covered. In the case of a foreign currency deposit, it will be converted into Patacas in determining the entitlement to compensation of depositors.

Besides, it is very important for customers to understand clearly that some specific deposit types stated below are not protected by the Guarantee:

1) Structured Deposit
Deposit under which the repayment of the principal and/or interest depends upon the value of the underlying financial assets. Typical examples may include equity linked deposits and foreign currency linked deposits.

2) Secured Deposit
Deposit pledged to a bank in return for a service, such as a credit or trade facility, from the bank.

3) Bearer Instrument
This is a form of financial instrument, for instance certificate of deposit, where the holder of the instrument is entitled to the repayment of the money underlying the instrument.

4) Other financial products such as bonds, stocks, warrants, mutual funds, unit trusts and insurance policies are not protected under the Guarantee.

The list of BCM products with coverage of Full Deposit Guarantee is available upon request at BCM branches or visit to https://www.bcm.com.mo. Details of the Guarantee is also available for reference or download at the website of the Macau Monetary Authority.

.

Banco Comercial de Macau
2009/04/23