Regulatory Alerts2022-09-23 | 13475Reserve Requirements, The Regulation of Transfer Operations to and from BDL, Housing Loans Programs and Facilities Granted by BDL to Banks and Financial Institutions
The Central Bank of Lebanon issued Interim Decision No. 13475 to amend four foundational banking regulations, transitioning reference rates from LIBOR to SOFR Term and ESTR ahead of LIBOR's July 2023 cessation. The decision establishes new interest rate caps and calculation methodologies for housing, productive sector, and green loans across Lebanese Lira and foreign currencies, while updating daily reserve requirements and transfer delay penalties. Banks must finalize contract amendments by June 30, 2023, with the updated rates and procedures taking full effect on July 1, 2023.
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