Regulatory Alerts2016-01-01
Compliance on Statutory Reserve Ratios and Access to the Overnight Lending Facility
The Bank of Zambia mandates that commercial banks shift their statutory reserve compliance from a daily to a weekly basis, effective 21 November 2016. The central bank simultaneously lifts the weekly restriction on Overnight Lending Facility access, allowing multiple weekly withdrawals provided sufficient collateral is held. Additionally, any intraday loans not repaid by the end of the business day will automatically convert to overnight loans.
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