Section 3April 4, 1974, Sec./Art. 3

Authority of banks to accept foreign currency deposits. The banks designated by the Central Bank under Section two hereof shall have the authority:

1) To accept deposits and to accept foreign currencies in trust: Provided, That numbered accounts for recording and servicing of said deposits shall be allowed;

2) To issue certificates to evidence such deposits;

3) To discount said certificates;

4) To accept said deposits as collateral for loans subject to such rules and regulations as may be promulgated by the Central Bank from time to time; and

5) To pay interest in foreign currency on such deposits.