Amendment to Daily Operating Schedule of the LankaSettle System

# CENTRAL BANK OF SRI LANKA

**Payments and Settlements Department**

05 September 2019

Ref. 34/07/029/0001/002

Payment and Settlement Systems Circular No. 06 of 2019

To: All participants of LankaSettle System

## Amendment to Daily Operating Schedule of the LankaSettle System

1. A Liquidity Support Facility under Open Market Operations (OMO) will be introduced by the Central Bank of Sri Lanka for Standalone Primary Dealers with effect from 06 September 2019.

2. Accordingly, you are hereby informed that the table in the Clause 1.2 of Volume 4 of LankaSettle System Rules Version 2.1 – August 2013 on Daily Operating Schedule will be amended as follows with effect from 06 September 2019.

| TIME | EVENT | ACTIVITIES / TRANSACTIONS |
|---|---|---|
| 0630 hrs. | System start-up | Start-up of RTGS/SSS applications. |
| 0730 hrs. to 0800 hrs. | Start of day processing | Update Official Prices of securities, earmarking securities for ILF. |
| 0800 hrs. | LankaSettle System opens for business | System opens for effecting transactions. |
| 0800 hrs. | ILF/ Auto reversal of Repos and Standing Deposit Facility (SDF) | Grant ILF and settle second leg of Repos of OMO and SDF |
| 0815 hrs. | Maturities/Interest payments, start of the day (SOD) file and maturities of CBSL Securities | Settlement of maturity proceeds/coupon payments of securities, effecting LankaSettle charges/penalties and maturities of CBSL Securities. |
| 0830 hrs. | Multilateral Net Settlement (MLNS) Batch from LankaClear | SLIPS Cycle 1/Main Clearing of CITS. |
| 0830 hrs. | Outright sales/ Purchases / Long Term Repo Auction/ Issue of Long Term CBSL Securities | Settlement of OMO outright sales, purchases, Long Term CBSL Securities Auction and first leg of Long Term Repo Auction. |
| 0845 hrs. | MLNS Batch from LankaClear | Common ATM Switch (CAS) Cycle 1 |
| 0900 hrs. | MLNS Batch from LankaClear | Common Electronic Fund Transfer Switch (CEFTS) Cycle 1 |
| 0900 hrs. | MLNS Batch from LankaClear | Common POS Switch (CPS) Cycle 1 |

---

| TIME | EVENT | ACTIVITIES / TRANSACTIONS |
|---|---|---|
| 1100 hrs. | Reversal of Reverse Repos and Standing Lending Facility (SLF) | Settlement of second leg of Reverse Repos under OMO and SLF. |
| 1100 hrs. | Reversal of Liquidity Support Facility (LSF) | Settlement of second leg of LSF under OMO |
| 1100 hrs. | MLNS Batch from LankaClear | CAS Cycle 2 |
| 1115 hrs. | MLNS Batch from LankaClear | CEFTS Cycle 2 |
| 1115 hrs. | MLNS Batch from LankaClear | CPS Cycle 2 |
| 1145 hrs. | Long Term Reverse Repos (Auction) | Settlement of first leg of Long Term Reverse Repos under OMO. |
| 1300 hrs. | MLNS Batch from LankaClear | SLIPS Cycle 2 |
| 1300 hrs. | MLNS Batch from LankaClear | CAS Cycle 3 |
| 1300 hrs. | Closure of Primary Auction Settlement/Short Term CBSL Securities Auction | Settlement of securities under Primary Auction. Settlement of Short Term CBSL Securities Auction |
| 1315 hrs. | MLNS Batch from LankaClear | CEFTS Cycle 3 |
| 1315 hrs. | MLNS Batch from LankaClear | CPS Cycle 3 |
| 1315 hrs. | Short Term Repos/Reverse Repos (Auction) | Settlement of first leg of Short Term Repos/Reverse Repos under OMO |
| 1315 hrs. | Liquidity Support Facility (Auction) | Settlement of first leg of LSF under OMO |
| 1445 hrs. | MLNS Batch from LankaClear | Settlement Clearing and Adjustment Clearing. |
| 1500 hrs. | MLNS Batch from LankaClear | SLIPS Cycle 3 |
| 1500 hrs. | MLNS Batch from LankaClear | CAS Cycle 4 |
| 1500 hrs. | Primary cut-off time for third party transactions | Close for new transactions (for T + 0) in favour of third parties, except for bank-to-bank (MT2XX series). |
| 1515 hrs. | MLNS Batch from LankaClear | CEFTS Cycle 4 |
| 1515 hrs. | MLNS Batch from LankaClear | CPS Cycle 4 |
| 1545 hrs. | Cut-off time for Participant managed ILF Repo creation | Participants should not initiate ILF Repos after 1545 hrs. |
| 1600 hrs. | SDF | Settlement of first leg of SDF |
| 1615 hrs. | SLF | Settlement of first leg of SLF. |
| 1615 hrs. | ILF Repayment | Repayment of ILF. |
| 1630 hrs. | Final Cut-off Time Closure of System for business | No further inputs are accepted. With the closure of system for business, queue/Settlement processing will cease and any transactions still in queues will be rejected by the system. |
| 1630 hrs. to 1700 hrs. | EOD processing | End-of-day (EOD) processes e.g. generate reports/GL export (EOD) file, database maintenance for billing/statement printing purposes. |
| 1700 hrs. | System shut down | Commence shutting down of RTGS/SSS application software, obtain off-line backups. |

3. Participants are advised to monitor their settlement accounts through browser workstations and ensure sufficient funds are available in the settlement accounts at the time of settlement of Multilateral Net Settlement (MLNS) batches in the RTGS system.

**D Kumaratunge**  
Director Payments and Settlements

**D S T Wanaguru**  
Actg. Superintendent Public Debt