2014-11-05 | FMD/DIR/GEN/CIR/05/020

RE: Guidelines on Accessing the CBN Standing Deposit Facility

The Central Bank of Nigeria is issuing a circular to all banks and discount houses regarding guidelines for accessing the CBN Standing Deposit Facility (SDF). The bank has observed that financial institutions prefer to keep their idle balances in the SDF, hindering financial intermediation. To encourage lending to the productive sector, the CBN is implementing a review of the SDF guidelines, including a cap on remunerable daily placements and interest rates.

Nigeria

Central Bank of Nigeria

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