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The Banking Supervision Department today published the final version of the updated directive on “The Survivorship Term and Handling Existing Commitments after Death”. The goals of the update are to enhance joint account owners’ awareness of the “survivorship” condition in account opening agreements, and its significance, as well as assistance to surviving account co-owners in acting to arrange existing commitments via means of payment issued for the use of the deceased partner.

For further information, please see the previous press release on the issue.