Regulatory Alerts2020-06-29 | Circular No. 35/03/016/007/006Modifications to Standing Facility under Open Market Operations
The Central Bank of Sri Lanka amended the Consolidated Operating Instructions for the Standing Deposit and Lending Facilities effective 06 July 2020. Participating Institutions must now submit electronic bids for both facilities through the Online Electronic Bidding System by 1530 hours. These changes standardize the submission deadlines while maintaining automatic approval of amounts at the cut-off time.
# CENTRAL BANK OF SRI LANKA
## Domestic Operations Department
29 June 2020
Circular No: 35/03/016/007/006
**To: CEOs of All Participating Institutions**
### Introducing Modifications to the Existing System for Standing Facility under Open Market Operations
This has reference to the Circular No. 35/03/016/007/001 dated 26 October 2016 on Consolidated Operating Instructions (COI) on Market Operations as amended. Following Clauses of the COI, applicable for Standing Facility under Open Market Operations are hereby amended with effect from 06 July 2020.
---
### Clause 30
The standing facility shall be an overnight facility where Participating Institutions (PIs) can avail the Standing Deposit Facility (SDF) to deposit funds at the Central Bank of Sri Lanka (CBSL) or may use the Standing Lending Facility (SLF) to borrow funds from the CBSL by providing eligible collaterals. The amount so deposited or borrowed under the standing facility may be at their own discretion. The sole responsibility of the amount placed/requested through the Online Electronic Bidding System (OEBS) under SDF/SLF shall be vested by the PIs. Accordingly, the amounts are approved by the System automatically at the cut-off time.
---
### Clause 31
The PIs who wish to use the SDF are required to enter the deal electronically by submitting through OEBS not later than 1530 hours.
---
### Clause 41
The PIs who wish to use the SLF are required to enter the deal electronically by submitting the amount required and the details of the securities through OEBS not later than 1530 hours.
---
All other clauses relating to the Standing Facility of the COI on Market Operations, as amended from time to time, will remain unchanged.
---
**Director/Domestic Operations**
7 වැනි අවසානය, 2 වැනි කුඩා ගොඩු 30, ජනාධිපති මාවත, කොළඹ 590, කොළඹ 01, ශ්රී ලංකාව
+94 112 477036 | +94 112 346287 | ddom@cbsl.lk | www.cbsl.gov.lk
Level 7, Tower 2
No. 30, Janadhipathi Mawata
P.O. Box 590, Colombo 01, Sri Lanka
Share