Regulatory Alerts2015-01-01
Revised Charges and Penalties for ZIPSS and CSD
The Bank of Zambia has issued revised administrative fees, transaction charges, and penalties for the Zambia Interbank Payment and Settlement System (ZIPSS) and Central Securities Depository (CSD), effective 1 February 2015. These updated rates cover daily operational and infrastructure development costs while excluding existing VPN and Montran RTGS expenses, with commercial banks expected to pass the benefits on to customers. The circular outlines tiered processing fees based on transaction timing, specific penalties for cancellations and insufficient funds, and handling charges for primary treasury bill and government bond auctions.
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