Region

Jurisdiction

Regulator

2009-01-01

Bank of Zambia Revised Calendar for Submission of Prudential Returns

The Bank of Zambia issued Circular 02/2009 to revise the submission deadlines for prudential returns from commercial banks and non-bank financial institutions. The new schedule requires monthly returns to be filed via the Risk Analysis Automation System within six working days following the reference month to ensure timely regulatory data collection. Institutions face a daily penalty of K500,000 for late or incorrect submissions, although the calendar for quarterly financial statements remains unchanged.

Zambia

Bank of Zambia

# BANK OF ZAMBIA
## OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

February 16, 2009  
CB Circular No: 02/2009  

To: All Commercial Banks and Non-Bank Financial Institutions  

## REVISED CALENDAR FOR SUBMISSION OF PRUDENTIAL RETURNS

Further to CB Circular No. 01/2009 dated 8 January 2009, please be informed that the due dates for submission of Prudential Returns have been revised as indicated below. This has been necessitated by the need for the Bank of Zambia to collate information in timely manner for the effective execution of its monetary and supervisory policies. The current reporting regime has been found to be difficult on account of the long period between the reference month and the reporting deadline. The current global financial crisis has underscored the need for regulators to have accurate and timely information. Therefore, all institutions are expected to cooperate fully and abide by this requirement.

The following are the revised dates:

### PRUDENTIAL RETURNS

| Month      | Due Date       |
|------------|----------------|
| February   | 10 March 2009  |
| March      | 8 April 2009   |
| April      | 11 May 2009    |
| May        | 8 June 2009    |
| June       | 10 July 2009   |
| July       | 11 August 2009 |
| August     | 8 September 2009 |
| September  | 8 October 2009 |
| October    | 9 November 2009 |
| November   | 8 December 2009 |
| December   | 11 January 2010 |

The Prudential Returns should be submitted through the Risk Analysis Automation System (RAAS) of the Bank Supervision Application within 6 working days following the reference month.

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Penalty of K500,000 per return per day will be charged for any delayed or incorrect submission of returns. A penalty will start accumulating after close of business on the sixth working day. However, the calendar for the of Quarterly Financial Statements and Bank Charges for Personal Current Accounts and Other General Services is not affected by this Circular.

Denny H Kalyalya (Dr)  
DEPUTY GOVERNOR – OPERATIONS  

Cc: Governor

Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: +260 -211- 226844 Fax: +260 -211- 2370701 E-mail: dkalyaly@boz.zm http://www.boz.zm