Non-Deliverable Forward Transactions

undeliverable Forward (NDF) Summary… market exchange rate for the first value is 998.00…This PDS relates to Non-Deliverable Forward Transactions (NDFs).

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Non-Deliverable Forward Transactions, Issued by Westpac Banking Corporation
Important Information … 3
Non-Deliverable Forward Transaction (NDF) Summary… 4
Non-deliverable Forward Transactions… 5
What is an NDF? …5
How do NDFs Work?…5
How does Westpac determine my contract rate? …5
How does Westpac determine my fixing rate?…5
How does Westpac determine the cash settlement amount?…6
What happens at maturity?…6
Can I terminate an NDF before maturity? …6
Can I bring the maturity date forward?…6
Can I extend the maturity date?…6
How do newly declared holidays affect my fixing date and maturity date? …7
Are there any Westpac credit requirements before dealing? …7
Costs, benefits and risks… 8
What are the costs?…8
Key Benefits…8
Key Risks…8
Documentation and Confirmations … 9
What documentation is required? …9
What about confirmations? …9
Examples… 10
Scenario 1 – Foreign Currency Payment…10
Scenario 2 – Foreign Currency Receipt…11
Scenario 3 – Foreign Currency Receipt – Extending the Maturity Date…12
Scenario 4 – Foreign Currency Payment – Bringing the Maturity Date forward…12
General Information … 13
Code of Banking Practice …13
Anti-Money Laundering…13
Telephone conversations…13
Labour standards or environmental, social and ethical considerations…13
Dispute resolution…13
Factors that may influence our advice …14
Privacy and confidentiality …14
Taxation…14
Appendix A… 15
Glossary … 16
Contact Details … 17

Download Non-Deliverable Forward Transactions pdf from www.westpac.com.au, 17 pages, 177.92KB.
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