Regulatory Alerts2020-12-09 | 13299Issuing of Certificates of Deposit & Banking Certificates and Bonds
Governor of the Central Bank of Lebanon issued Central Decision No. 13299 to amend Central Decisions No. 6856 and No. 7224, extending the application of Articles 6 bis and 20 until June 30, 2021. This extension permits the repayment and cross-border transfer of bonds, support loan instruments, certificates of deposit, and banking certificates held by Lebanese custodians. The decision takes immediate effect upon issuance and is published in the Official Gazette.
Central Circular No. 576
To Banks and Financial Institutions and to Supervisory Commissioners
We enclose a copy of Central Decision No. 13299 dated 9/12/2020 regarding the amendment of:
- Central Decision No. 6856 dated 19/12/1997 (Bonds Issuable by Lebanese Banks and Financial Institutions) attached to Central Circular No. 36.
- Central Decision No. 7224 dated 11/2/1999 (System for Issuing Certificates of Deposit and Banking Certificates) attached to Central Circular No. 61.
Beirut, on 9 January 2020
Governor of the Central Bank of Lebanon
Riad T. Salamé
Central Decision No. 13299 Amending Central Decision No. 6856 dated 19/12/1997 and Central Decision No. 7224 dated 11/2/1999
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Loan Law, particularly Articles 70 and 174 thereof, and pursuant to Central Decision No. 6856 dated 19/12/1997 and its amendments regarding bonds issuable by Lebanese banks and financial institutions, and pursuant to Central Decision No. 7224 dated 11/2/1999 and its amendments regarding the system for issuing certificates of deposit and banking certificates, and pursuant to the decision of the Central Council of the Central Bank of Lebanon taken in its meeting held on 9/12/2020,
hereby decides as follows:
Article One: The application of the following provisions is extended until 30/6/2021: " - Article 6 bis " of Central Decision No. 6856 dated 19/12/1997 added by Central Circular No. 13187 dated 30/1/2020, concerning the repayment of bonds and negotiable instruments representing support loans, deposited with custodians in Lebanon and their procedures for transfer abroad. " - Article 20 " of the system attached to Central Decision No. 7224 dated 11/2/1999 added by Central Circular No. 13187 dated 30/1/2020, concerning the repayment of certificates of deposit and banking certificates deposited with custodians in Lebanon and their procedures for transfer abroad.
Article Two: This decision takes effect upon its issuance. Article Three: This decision is published in the Official Gazette. Beirut, on 9 January 2020
Governor of the Central Bank of Lebanon
Riad T. Salamé