Central Bank of Sri Lanka Operating Instructions on Reserve Requirements

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දේශීය මෙහෙයුම් කටයුතු දෙපාර්තමේන්තුව

உள்நாட்டு தொழிற்பாடுகள் திணைக்களம்

Domestic Operations Department

OPERATING INSTRUCTIONS No: 35/01/005/0007/19

10 August 2023

To : CEOs of All Licensed Commercial Banks

RESERVE REQUIREMENTS

Your attention is invited to the notification made by the Monetary Board of the Central Bank of Sri Lanka under Sections 10(c), 93, 94, 96 and 97 of the Monetary Law Act (Chapter 422 of Ceylon Legislative Enactments) as amended and Regulation “D” published in the Gazette Extraordinary of the Democratic Socialist Republic of Sri Lanka No. 1805/39 of 12 April 2013 as amended.

2. All Licensed Commercial Banks are hereby informed that in accordance with the said notification, they should maintain reserves against deposit liabilities denominated in Sri Lankan Rupees at an amount equal to two per centum (2.00%) of the total of such deposit liabilities.

3. Schedule A of Operating Instructions No. 35/01/005/0007/18 of 19 August 2021 is replaced by attached ‘Schedule A’.

4. The above amendment is effective from the reserve maintenance period commencing from 16 August 2023. All other instructions contained in our Operating Instructions No. 35/01/005/0007/06 of 22 April 2013 as amended from time to time will continue to apply.

[Signature] Dr. R A Anil Perera Director/Domestic Operations

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SCHEDULE A FORM OF REPORT REPORT OF DAILY AVERAGE RUPEE DEPOSIT LIABILITIES

Name of the Bank : .................................................................................... For the period from : (............................) to (............................) Date Date

To : Director, Domestic Operations Department, Central Bank of Sri Lanka, Colombo 01

The average amounts of deposit liabilities reported below are based on the deposit balances shown by the books of the Banks at the close of business of each day of the period specified above.

(i)	(ii)	(iii)	(iv)
Demand	Time and	Margins against	All other
Deposits	Savings	Letters of Credit/DA	Deposit
	Deposits	Terms	Liabilities¹

1 In the case of Certificate of Deposits the amount declared should be the paid up value.

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REQUIRED RESERVES

For the period commencing ...........................................................

Item	In Sri Lankan Rupees
1. 100% of Average daily total Margins against
a. Letters of Credit specified under
(i). Circular No. 35/01/005/0010/20 dated 19 September 2018 on
‘Margin Requirements against Letters of Credit for
importation of Motor Vehicles’ or
(ii). Circular No. 35/01/005/0010/21 dated 29 September 2018 on
‘Margin Requirements against Letters of Credit for
importation of Motor Vehicles and Non-Essential Consumer
Goods’
and
b. Imports on Document against Acceptance (DA) Terms specified
in Circular No. 02 of 2018 dated 11 October 2018
as the case may be
2. 2% of Average daily total Rupee Deposit Liabilities excluding (1)
above
3. Average of Sri Lanka Currency Notes and Coins held over and
above 2% of average deposit liabilities covered in 1 and 2, but not
exceeding 3%
4. Total reserves required to be maintained over the reserve
maintenance period (1+2-3)

We/I hereby certify that the above statement is correct and in accordance with the book of this bank and that the figures shown above are in accordance with the regulations prescribed by the Monetary Board of the Central Bank of Sri Lanka for the purpose.

Date : ...................................................

                                                                    ...................................................
                                                                    Official Signature

Note – (a) Deposits and placements made by any institution other than licensed commercial banks, shall be accounted for maintenance of required reserves at prescribed ratios. (b) All amounts should be shown to the nearest rupee.

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