Regulatory Alerts2019-04-26 | Circular LetterReference Rates for Maximum Interest Rates on Sri Lanka Rupee Deposits (Quarter Ending 30 June 2019)
The Central Bank of Sri Lanka has established updated reference rates to calculate maximum interest caps on Sri Lanka Rupee deposits for licensed banks. Citing the Monetary Law Act Order No. 01 of 2019, the directive sets the Standard Deposit Facility Rate at 8.00 percent and the simple average yield of recent 364-day Treasury Bill auctions at 10.54 percent. These benchmarks govern deposit pricing for the quarter ending 30 June 2019 and apply to all licensed banks.
[Logo: Central Bank of Sri Lanka]
ශ්රී ලංකා මහ බැංකුව இலங்கை மத்திய வங்கி CENTRAL BANK OF SRI LANKA
බැංකු අධීක්ෂණ දෙපාර්තමේන්තුව வங்கி மேற்பார்வைத் திணைக்களம் Bank Supervision Department
26 April 2019
To - Chief Executive Officers of all Licensed Banks
Dear Sir/ Madam,
Reference Rates applicable for Maximum Interest Rates on Sri Lanka Rupee Deposits of Licensed Banks for Quarter ending 30 June 2019
With reference to the Monetary Law Act Order No. 01 of 2019 on the ‘Maximum Interest Rates on Sri Lanka Rupee Deposits of Licensed Banks’, the Standard Deposit Facility Rate (SDFR) as at the end of the first quarter of 2019 and, the simple average of the Weighted Average Yield Rates (WAYR) relating to the last 04 primary auctions for 364-days Treasury Bills conducted during the first quarter of 2019 are in Table 01 below.
Table 01: Applicable Reference Rates for Quarter ending 30 June 2019
| Rate | % |
|---|---|
| SDFR | 8.00 |
| WAYR of 364-days Treasury Bills | 10.54 |
Yours faithfully,
[Signature]
A A M Thassim Director of Bank Supervision
6 වන මහල, අංක 30, ජනාධිපති මාවත, කොළඹ 01, | 6 ஆம் மாடி, இல. 30 சனாதிபதி மாவத்தை கொழும்பு 1 | Level 6, No. 30, Janadhipathi Mawatha, Colombo 1 තැ. පෙ. 590, කොළඹ 01, ශ්රී ලංකාව | த. பெ. இல. 590, கொழும்பு 01, இலங்கை | P. O. Box. 590, Colombo 01, Sri Lanka. ( 94 11 2477100/659 | 94 11 2477711 | banksup@cbsl.lk | www.cbsl.gov.lk