Regulatory Alerts2001-01-01
Revised Open Market Operations Bid/Offer Limits
The Bank of Zambia has immediately reduced the minimum transaction amount for Open Market Operations from K500 million to K100 million. Commercial banks must conduct subsequent transactions in K100 million multiples, which remain unchanged from previous regulations. All other conditions governing these open market operations continue to apply without modification.
Tel. 228888/228903-20
BANK OF ZAMBIA
P.O. BOX 30080
Lusaka
10101
January 26, 2001
CB Circular No. 09/2001
TO : All Commercial Banks
Dear Sirs/Madam
**REVISED OPEN MARKET OPERATIONS BID/OFFER LIMITS**
Reference is made to CB Circular 02/2001 dated 11 January 2001, in which the Bank of Zambia advised commercial banks of the revised minimum amount to be transacted at the Open Market Operations.
Commercial banks are advised that after further review, the Bank of Zambia has with immediate effect reduced the minimum amount to be transacted at the Open Market Operations downwards from K500 million to K100 million. Be further advised that the multiples at which transactions will be conducted thereafter remain unchanged at K100 million.
All other conditions governing the Open Market Operations remain unchanged.
Yours faithfully
Dr Abraham Mwenda
DEPUTY GOVERNOR - OPERATIONS
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