2009-03-24

Banking Circular No 3 of 2009 - Interbank (“Horizontal”) Master Repurchase Agreement (MRA)

The Central Bank of Kenya (CBK) reintroduced the Horizontal Master Repurchase Agreement (Horizontal Repo) program in 2009, which it had previously rolled down in 2008. The purpose of this facility was to enhance market liquidity and promote financial system development by allowing banks to exchange securities on a real-time basis through Delivery versus Payment (DvP). Banks were urged to promptly implement all operational procedures and guidelines related to the program as its timely implementation would support CBK's effectiveness in conducting monetary policy.

Kenya

Central Bank of Kenya

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