Regulatory Alerts2001-01-01
Revision of Penalties on Foreign Exchange Position and Placement Excesses
The Bank of Zambia issued Circular 25/2001 to mandate an immediate reduction in penalty rates for foreign exchange position and placement excesses held by commercial banks. This directive lowers the applicable penalty from ten percent to one percent, replacing the rates previously established in March 2001. Institutions requiring further clarification are directed to contact the Director of Bank Supervision for operational guidance.
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