Common use of Currency Translation Rule Clause in Contracts

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 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 calen- dar year preceding the year in which the Reporting Irish Financial Institution is determining the balance or value.