Regulatory Alerts2019-02-14 | Operating Instruction No. 35/03/016/007/002Consolidated Operating Instructions on Market Operations
The Central Bank of Sri Lanka amended Sections 17(b) and 17(d) of its Consolidated Operating Instructions on Market Operations with effect from 14 February 2019. Participating Institutions failing to maintain sufficient funds on maturity dates are now liable for damages and default interest at 0.1% per day. Repeated defaults exceeding three times in a calendar year trigger an increased default interest rate of 0.2% per day or potential suspension from transactions.
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