Banks shall incorporate the provisions of the Rules into its policies and procedures, and take the necessary measures to ensure compliance with them. Banks shall also apply, at a minimum, the following governance procedures:
a.
Banks’ board of directors, or their authorized delegate, shall be responsible for setting the criteria for participation as a Lending Bank or a Receiving Bank.
b.
Banks shall prove its ability to take part in an IPO and undertake its role prudently and efficiently, by possessing the financial and operational capacity that includes the resources, systems and procedures necessary to manage the associated risks.
c.
Banks shall set procedures to monitor IPO-related activities, and comply with the requirements contained in these Rules.
5.
Banks may not contravene its internal policies related to financing programs or other programs without obtaining the approval of the bank’s board of directors or its authorized delegate.
6.
Banks shall ensure the effectiveness of all relevant systems before commencing an IPO.
