Region

Jurisdiction

Regulator

2001-01-01

Bank of Zambia Circular 02/2001: New Open Market Operations Bid/Offer Limits

The Bank of Zambia has revised the minimum transaction amounts and multiples for commercial bank participation in Open Market Operations. Effective January 15, 2001, the minimum bid or offer amount increases from K50 million to K500 million, while transaction multiples rise from K50 million to K100 million. All other regulatory conditions governing these operations remain unchanged, and banks must comply with the new thresholds for all future transactions.

Zambia

Bank of Zambia

Tel. 228888/228903-20

January 11, 2001

CB Circular No 02/2001

To : All Commercial Banks

Dear Sirs/Madam

## NEW OPEN MARKET OPERATIONS BID/OFFER LIMITS

Reference is made to circular No. SCH/CB//6/95 dated 22 February 1995 in which the Bank of Zambia advised commercial banks of the minimum amount to be transacted at the Open Market Operations.

The Bank of Zambia wishes to advise all commercial banks that with effect from Monday, 15 January, 2001, the minimum amount to be transacted at the Open Market Operations has been revised upwards from K50 million to K500 million. Be further advised that the multiples at which transactions will be conducted thereafter have also been revised upwards from K50 million to K100 million.

All other conditions governing the Open Market Operations remain unchanged.

Yours faithfully

Dr Abraham Mwenda  
DEPUTY GOVERNOR - OPERATIONS

BANK OF ZAMBIA  
P.O. BOX 30080  
Lusaka  
10101