Regulatory Alerts2015-01-01
Changes to the Overnight Lending Facility Window
The Bank of Zambia restricts commercial banks' access to the Overnight Lending Facility window to once per week, effective immediately. The central bank also discontinues the automatic route for accessing overnight funds through lapsing intraday loans, treating unpaid cash as a default that triggers automatic forfeiture of the covering securities and haircut. These measures support the current monetary policy stance to contain inflationary pressures while allowing ongoing monitoring and periodic review of access conditions.
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