Regulatory Alerts2010-04-07
KEPSS Rules and Procedures Schedule E
The document outlines Schedule E of the KEPSS Rules and Regulations, detailing various fees, charges, and penalties associated with the system. The annual maintenance fee is listed, along with transaction fees for different mechanisms and windows, charges for manual input and rejected transactions, and penalties for conversion of intra-day collateralized loans into overnight loans. Settlement charges and penalties are also mentioned, with the note that these will be debited from the participant's settlement account daily.
Schedules To The Kepss Rules And Regulations
SCHEDULE E - KEPSS FEES, CHARGES AND PENALTIES (AMENDED) ANNUAL FEE The annual maintenance fee is US dollar 137,000 + VAT + with-holding tax Participant (incoming + outgoing) msgs pa x Annual Maintenance Fees Total messages processed by KEPSS System in the year excluding CBK messages
| Transaction Fees | Transaction Currency | ||||
|---|---|---|---|---|---|
| Window | Mechanism | (Kshs) | GBP £ | USD $ | EURO € |
| 1 | RTM* before ICO | 25 | 0.5 | 1 | 1 |
| LOM* before ICO | 50 | 0.5 | 1 | 1 | |
| 2 | After ICO | 140 | 1 | 2 | 2 |
*RTM: - Real Time Mechanism (No queuing of transaction for insufficient funds) *LOM: - Liquidity Optimising Mechanism (Transactions are queued awaiting sufficient funding)
| Reason | Charge | GBP £ | USD $ | EURO € |
|---|---|---|---|---|
| (Kshs) | ||||
| Manual input | 2,000 | 20 | 20 | 20 |
| Rejected RTM Transaction | 5,000 | 50 | 50 | 50 |
| Rejected Transaction at FCO | 10,000 | 100 | 100 | 100 |
| Request for KEPSS window extension ICO and FCO | 100,000 | |||
| N/B. No extension after 6.00pm |
| Conversion of an intra day (ILF) collateralized loan into an overnight loan. | 1% of the converted amount, in addition to the usual interest on such loans by the Bank |
|---|
Settlement Charges
Penalties
Transaction fees, charges and penalties will be cumulated and debited to the participant's settlement account on a daily basis.
NATIONAL PAYMENT SYSTEM- JULY 2009