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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

authorised non-business overdraft agreement

    107a borrower-lender agreement which provides authorisation in advance for the borrower to overdraw on a current account, where:

      1. (a) the credit must be repaid on demand or within three months;
      1. (b) the agreement is not entered into by the borrower wholly or predominantly for the purposes of the borrower's business.