Regulatory Alerts2013-06-26 | BSD/DIR/GEN/RRTB/06/027Regulatory Reporting of FGN-Issued And CBN-Issued Treasury Bills
As of June 12, 2013, the Directorate of Banking Supervision requires all Depository Money Banks (DMBs) to separately report CBN-issued and FGN-issued treasury bills on their electronic Financial Institutions' Accounting Software System (e-FASS). FGN-issued treasury bills should continue to be reported as Code 10410: Treasury Bills, whereas CBN-issued bills are now required to be reported under Code 10430: CBN Registered Certificates. This change is made in order to enhance the monitoring of these instruments for monetary policy purposes.
BSD/DIR/GEN/RRTB/06/027 June 12, 2013 LETTER TO ALL BANKS REGULATORY REPORTING OF FGN-ISSUED AND CBN-ISSUED TREASURY BILLS It has been observed that DMBs report both FG-issued and CBN-issued treasury bills as 'treasury bills' on their balance sheet on e-FASS. Whilst this categorization is sufficient for liquidity management purposes, it should be noted that CBN bills also serve as instruments of monetary policy. In order to enhance the monitoring of these instruments, henceforth all DMBs are required to report CBN-issued and FG-issued treasury bills separately. While FG- issued treasury bills should continue to be reported under Code 10410: Treasury Bills, CBN-issued treasury bills should be reported under Code 10430: CBN Registered Certificates. Yours faithfully, B.A. FAKUNLE FOR: DIRECTOR, BANKING SUPERVISION