Regulatory Alerts2023-11-03 | 13590Amendment of Statement (-3INT) on Interest Rates and Inter-Bank Credit Volume
The Acting Governor of the Central Bank of Lebanon issued Circular No. 13590 on November 3, 2023 to repeal and replace Statement No. 3-(INT) attached to Base Decision No. 5803, thereby updating the reporting framework for inter-bank borrowing and lending operations in Lebanese Lira, US Dollars, and Euros. The amended statement mandates precise interest rate declarations with two to five decimal places, whole-number amount reporting, and separate tracking of direct versus indirect transactions executed by financial or brokerage institutions. This circular takes immediate effect upon issuance and requires publication in the Official Gazette to standardize inter-bank credit volume disclosures.
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