Currency Translation Rule Clause Samples
The Currency Translation Rule clause establishes how monetary amounts denominated in different currencies are to be converted for the purposes of the agreement. Typically, it specifies the reference exchange rate to be used—such as the rate published by a particular bank or financial service on a certain date—and may outline procedures for handling currency fluctuations or conversions at the time of payment or calculation. This clause ensures consistency and fairness in financial calculations, preventing disputes over currency values and clarifying the method for translating amounts between currencies.
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Currency Translation Rule. For purposes of determining the balance or value of accounts denominated in a currency other than the U.S. dollar, a Reporting Financial Institution must convert the dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the U.S. dollar, a Reporting Finnish Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Finnish Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the U.S. dollar, a Reporting Singaporean Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Singaporean Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the U.S. dollar, a Reporting Bahamas Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Bahamas Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of accounts denominated in a currency other than the U.S. dollar, a Reporting Swiss Financial Institution must convert the dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Swiss Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of accounts denominated in a currency other than the U.S. dollar, a Reporting Irish Financial Institution must convert the dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Irish Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of accounts denominated in a currency other than the U.S. dollar, a Reporting Danish Financial Institution must convert the dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Danish Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the U.S. dollar, a Reporting British Virgin Islands Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting British Virgin Islands Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the U.S. dollar, a Reporting Slovenian Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting Slovenian Financial Institution is determining the balance or value.
Currency Translation Rule. For purposes of determining the balance or value of Financial Accounts denominated in a currency other than the U.S. dollar, a Reporting New Zealand Financial Institution must convert the U.S. dollar threshold amounts described in this Annex I into such currency using a published spot rate determined as of the last day of the calendar year preceding the year in which the Reporting New Zealand Financial Institution is determining the balance or value.