Regulatory Alerts2010-12-10 | 160/01Regulation on Monetary Operations of the National Bank of Georgia
Issued by the National Bank of Georgia (NBG), this regulation establishes the comprehensive framework governing the central bank's monetary operations, including open market transactions, lending, deposits, and foreign exchange auctions. It mandates that commercial banks and non-resident branches with NBG accounts must provide approved collateral for liquidity facilities, submit bids via designated electronic systems, and adhere to strict multiple-price auction procedures for instruments like refinancing loans, one-month open market instruments, and certificates of deposit. The document standardizes settlement processes through the RTGS and CSD systems, defines standing facilities to manage short-term money market interest rate floors and ceilings, and outlines penalties for settlement failures to ensure systemic liquidity management and monetary policy transmission.