LogoRegulatory Alerts
2012-03-21

Banking Circular No 12 of 2011 - Amendments to Foreign Exchange Exposure Limits

Here is a summary of the information provided in the bank loan documents you've shared: **Loan Application Details (MT2g IETTER Of Intent):** - The applicant, Company A Ltd., intends to apply for a loan of KES 10 million. - The purpose of the loan is to finance the construction of a new office building with an estimated cost of KES 50 million. - The loan tenure is 20 years, with a grace period of 2 years before the start of repayment. - The interest rate for the loan is not mentioned explicitly but has been discussed privately between both parties. **Loi Amendment Details:** - The applicant intends to remove the office construction project and use the loan amount differently. However, this amendment is subject to the agreement of the bank. **Loi Cancellation Details (MT299TEST17):** - The applicant has requested a cancellation of the previous loan application. This letter also requests the bank to maintain confidentiality regarding this transaction. In addition, the bank branches mentioned in the provided documents are: 1. Nairobi - Code: 001 2. Mombasa - Code: 002 3. Kisumu - Code: 003 4. Eldoret - Code: 004 5. Nyeri - Code: 005 6. Nakuru - Code: 006 7. Meru - Code: 007

Central Bank of Kenya logo

Kenya

Central Bank of Kenya

BANKI KUU YA KENYA CENTRAI-BANK OF KENYA Hailc Selassie Avcnue P. O. Box 60(XX) - ()0200 Nairobi. Kenya Telephonc: 1860(XX). Far: 3il0192 BANKING CIRCULAR NO. 1 OF 2012 TO: ALL CHIEF EXECUTIYES OF COMMERCIAL BANKS

Implementation Of New Banking System

The Central Bank of Kenya is implementing an integrated core IT banking system to enhance service delivery to clients. The system is scheduled to Go-Live on April 2, 2012. Consequently, we wish to bring to your attention and compliance to the following requirements to facilitate smooth change-over to the new system:

  1. The format for MT202 and MT299 SWIFT messages will change and Banks are required to send Letters of Intent for deposits, withdrawals, cancellation and or amendment as shown in annexes 1 to 7 attached to this Circular. The effective date for adopting this new format of SWIFT messages is Friday 23'd March2[l2.

  2. In order to adequately prepare for smooth transition to the new core banking system, Banks are hereby notified that; i. Cash deposits and withdrawals will not be transacted from the Central Bank of Kenya outlets on Friday 30th March 2012.

ii. Normal services will resume on Monday 2il April 2O12.

You are kindly advised to contact the nearest Central Bank of Kenya Branch or ouflet for clarifications on this matt€r.

J.T. Lo6vetum.IISC Director, Currency Operations & Branch Administration Department T[esday, March2f,2}l2 cc: Chief Executive Officer Kenya Bankers Association {1:FolCBKEKENoAXXX48960128761x2:O299123111o519sc81KENoXXXX4896oo815111o5191231 NX+, :zo:oo22 1o2,20120'lool :21:cUR/DEP/oor :79:VALU EDATE:2 2l o2l zo12 KES.oro:1oo KES.o5o:2OOO KESl:1oooo KES.5:2oooo KES.Io:4oooo KES4o:40ooo KE55:5oooo KESIo:20000 KES2o:rooooo KES5o:2ooooo KESioo:looooo KES2oo:20oooo KES5OoXOOOOOO KESrooo:ig6oooooo TOTALVALUEx97782loo.oo OFFlclAl-:1o745o57 OFFICIAL:1o745o64 -] {1rFo1CBKEKENoAXXX48960128761H2:O299123111o519SCB1KENonfiX4896oo8r5111o5191231 NH+: :zo:o0221022012O2001 :2r:CUR/wlT/ool :79:VALUEDATE:2 2l ozl 2o't2 KES.olo:roo KES.05o:20oo KESi:loooo KES.5:2oooo KES.1o:40ooo KES4o:4oooo KES5:5oooo KESro:2oooo KES2o:iooooo KES50:2ooooo KESloo:iooooo KESzoo:2ooooo KES5ooxoooooo KESlooo:ig6oooooo TOTALVALUEx97762loo.oo oFFlclAlxo745o57 OFFICIAI-:1o745o54 -] !:FoiCBKEKENoAXXX4896ol2599X2:O2991232rlo519SCBLKENopfiX4E960o8153tlo5191232 NX+, :2o:MT299TEST21 :21:CUR/DEP/ootAMD t7 92 I 299REF :oo221 o22ol 2ol ool OFFICIAI-:ro745o67 OFFICIAI-:1o745055 {1:Fo1cBKEKENoArcfi4896ol2699H2:O2991232rlo519scBLKENoA)o0q896oo8r5311o5191232 NHq: :2o:MT299TESTl9 :ri:CUR/DEP/oodCAN :79:/299REF:oou21022012olool -] I {i : Fol ZYAAKEN oAx)fi or 935597or[z:Ozo20858080422FABLKEN o)O0fir 07o 0'999)7 oEo 4t2o9 ooUJt3:{1ol:KPSilro8:2oo8o422RT25lo9z}H+: :2o:JMM/o8/OPR 07 :21:CUR/WlT/oo1 :l2li:l20203KES63oooooo' :5zA:FABLKENo :58A.CBKEKENo :72:/ROC/CASH wlTH DMWAL REF!07oo3o220121ooo1 + + ANNEX E NAi' MT2g' IETTER Of INTENT ( GUIDEI-INES FIELDS TO BE POPUTATEDI

't2l i79 IEST BIC co(| !6 tr 3f,lclo bfl|r Lo| rt'. Xo h th. fttt||t €t{n -otlr/rYvw'S€qlf, CE-CASllt'G CEilInE e&6li5m.B omrnt d.i. ir lttlt !.Pt 2011 un r.$r|n tao. ls 20 (rJfrs biut 1-91 Guchftlonlr. ls@rtorxRE,@far/6a,@torrS'oo'tor€lD, 6 for IYEfi, Sfor tl(U afd 6, for irEnu, KES. O10:1oO KEs.O50:2OOO xEsl;10000 K€S. 5:20000 KES.l0l4OOOO (Es4O:4OOOO xEsS: 50000 xEslo:2OOOO KE s2O : 1OOOOO KEs tO : 2OOOOO xEsloo : t(Xtoq) Ut. tlEP if LOI r.f.r3 to . d.porit Bn .od wlT iol Kf,s5O0: 5OOOOOO rithdrawrl hn xEslo{to : 2oooood} mravALUE:263t2000. (rc OFFICIA!:9t766I CdJ DTb

Loi Amendment

:20: 121: itBzorrgsoorl- Rrtrranca tor thr otiglnal trn Ur. OEP it rm.ndmanl tatarr to I d.poait txn rtrd WIT tor withdr.u.l b(n lnsart lD No ot o|flclal you ata chan9lng lo

Loi Cancetlation

u:Fo!'c8rEKENoAs4896o12699}{21o29912'2110519|(C81xENoA84E96ooE1531105191232x}{4: : 20 : rT299TEsT17 :21 rcuR/ETl(x)2,/cAN : 79 : /299REF : 0012709201106002 Sam! tormat ag Amandmlnl

CBK BRANCHESCODE
NAIROBI001
MOMBASA002
KISUMU003
ETDORET004
NYERI00s
NAKURU006
MERU007
Tags
fx
advisory