Regulatory Alerts2008-06-16
Banking Circular No 2 of 2008- End of the test period for the new CBK BS(M) return
The Central Bank of Kenya has successfully implemented the new banking return format and will now discontinue the old reporting form. Transition to the new format will occur gradually, with submissions for April to June 2008 needing both the old and new forms, while those from July onwards should only include the new format. Starting May 2008, returns in the new format will be submitted through the Electronic Return Transmission Software (ERTS).
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CENTRAL BANK OF KENYA i fl Haile Selassie Avenue P. O. Box 60000 - 00200 Nairobi Kenya Telephone: 2860000 Telex: 22324 BANK!
KUU YA KENYA ,J
BANKING CIRCULAR NO 2 OF 22NDAPRIL 2008 TO: CHIEF EXECUTIVES OF COMMERCIAL BANKS, NONBANK FINANCIAL INSTITUTIONS AND MORTGAGE FINANCE COMPANIES The test period for the new CBK BS (M) return is now over and the Bank is satisfied that successful implementation of the new reporting format ha.sbeen achieved. We are, therefore, ready to discontinue the old reporting form and adopt the new one. In order to ensure smooth transition and adequate 'prepafation, submission of both the old and new forms will continue until the end'"()frune 2008. Thus, all returns relating to April, May, and June 2008 should be submitted in both the old and new forms. All the returns for July 2008 and subsequent ones should be submitted in the new format only. .
The returns in the new format which have hitherto been submitted bye-mail will, with effect from May 2008, be sent through the Electronic Re"turn Transmission Software (ERTS), details of whichwill be communicated to you before then.
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NICHOLAS B. T. A. KORIR DIRECTOR, RESEARCH DEPARTMENT .I