Regulatory AlertsDirective for Interbank Money Market Transactions
The Central Bank of Myanmar issued Directive No. 22/2019 to standardize interbank money market transactions, explicitly defining fund providing and receiving activities including bilateral lending, deposits, and repurchase agreements. Financial institutions must execute these transactions in Myanmar kyat or US dollars with a maximum one-year term, apply interest-bearing structures, adhere to prescribed haircut ratios for collateral, and ensure maturities align with business days. Banks are further mandated to report all transactions daily through the FIDES system by 4 PM, with receiving banks confirming data by 5 PM, while reporting failures trigger enforcement actions under the Financial Institutions Law of 2014.
Share