Because of interest-rate fluctuations, the HMDA rules require lenders to report the difference between the APR and the rate on Treasury securities of comparable maturity for any loans with rate spreads that exceed prescribed thresholds. For first-and second-lien loans, the thresholds are 3 percentage  2  BIS Review 42/2005  points and 5 percentage points above the Treasury security of comparable maturity, respectively.
The management of forex bureaux and money transfer has also been streamlined with the enactment of the Foreign Exchange Act 2004 which abolished formerly the Exchange Control Act 1964 which was laying in abeyance. Let me take this opportunity to invite those interested in Money Transfer business to come to us for licenses.