Regulatory Alerts2003-08-15 | 35-01-005-0008-01Central Bank’s Rate of Interest on Advances
The Central Bank of Sri Lanka issued Circular No. 35/01/005/0008/1 on 15 August 2003 to inform licensed commercial banks of a new interest rate policy. Effective immediately, the rate of interest on advances secured by government securities and usance promissory notes is set at fifteen percent per annum. This directive applies to loans secured by government and government guarantee securities as well as those related to commercial and production loans.
Circular No. 35/01/005/0008/1
Domestic Operations Department 15 August 2003 To: All Licensed Commercial Banks
Central Bank’s Rate of Interest on Advances Licensed commercial banks are hereby informed that with effect from 15 August 2003, the rate of interest on advances by the Central Bank to licensed commercial banks secured by the pledge of – a) Government and government guarantee securities; and b) Usance Promissory Notes relating to commercial and production loans will be fifteen (15) per centum per annum. D.S.Wijesinghe A.S.Jayawardene Director Governor