Regulatory Alerts2023-01-01
Bank of Zambia Circular No. 11/2023 on Straight-Through Processing for Government Securities Payments
The Bank of Zambia requires all commercial banks to implement a Straight-Through Process for government securities coupon and maturity payments, effective July 6, 2023. Participants must ensure correct settlement account configurations for clients on the Central Securities Depository and replace MT910 advice messages with MT103 payment messages. Incorrectly credited funds must be returned by 12:00 hours on the settlement day, with late returns subject to penalty fees calculated via the BoZ Overnight Lending Facility.
Share