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.
Circular No. 681
To: Banks
We submit to you Circular No. 13590 dated November 3, 2023, concerning the amendment of Statement (-3INT) attached to Base Decision No. 5803 dated February 16, 1995, concerning interest rates and inter-bank credit volume, subject of the main circular for banks No. 18.
Beirut, November 3, 2023
Acting Governor of the Central Bank of Lebanon Dr. Wissam Mansouri
Circular No. 13590
Amendment of Statement (-3INT) attached to Base Decision No. 5803 dated February 16, 1995
The Governor of the Central Bank of Lebanon, pursuant to the Monetary and Loans Law, particularly Article 146 thereof, based on Base Decision No. 5803 dated February 16, 1995, concerning interest rates and inter-bank credit volume, based on the decision of the Central Bank Council taken in its meeting held on September 15, 2023,
hereby decides as follows:
Article 1: The text of Statement No. 3-(INT) attached to Base Decision No. 5803 dated February 16, 1995 is repealed and replaced by the text attached to this Circular.
Article 2: This Circular shall take effect upon its issuance. Article 3: This Circular shall be published in the Official Gazette.
Beirut, November 3, 2023
Acting Governor of the Central Bank of Lebanon Dr. Wissam Mansouri
Central Bank of Lebanon No.: .......... Statistics and Economic Research Department Name: ................................... eSTR Statement -3INT Inter-bank borrowing and lending operations, in Lebanese Lira, US Dollar, and Euro On date ........../......../........
Type of Operation | Borrowing/Lending Currency | LBP/USD/EUR Actual Duration (Days) | [Value] Nominal Value | [Value] Interest Rate | [Value] Counterparty | Direct/Indirect *
Notes: A - The interest rate must be stated with at least two or up to five decimal places. B - Amounts are stated as whole numbers without fractions. C - Each operation is declared separately.
- Operations are executed indirectly by a financial or brokerage institution, exclusively, and the name of the executing institution is stated.
Name of Responsible Person: ................... Phone Number: ................... Department: .......................