Regulatory Alerts2020-06-18 | Operating Instruction No. 35/03/023/0001/001Liquidity Facility to the Construction Sector upon Promissory Notes/Guarantees Issued by the Government
The Central Bank of Sri Lanka issued Operating Instruction No: 35/03/023/0001/001 to provide urgent liquidity facilities to Licensed Commercial Banks for up to 180 days at a concessionary rate of 1 percent per annum. This facility enables banks to lend to the construction sector at interest rates not exceeding 4 percent, secured by promissory notes or guarantees issued by the Government of Sri Lanka. Licensed Commercial Banks are required to submit specific documentation and fortnightly utilization reports to the Domestic Operations Department to access these funds.
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