2001-03-25

Added 2026-06-03 · Updated 2026-08-04

Amendment of Limitation on Open Foreign Currency Position of Banks

Directive No. SBB/27/2001 amends the limitation on the overall open foreign currency position of banks, requiring that this position at the close of business each day shall not exceed 15% of the bank's total capital. Banks must compute this position on a consolidated basis, including forex bureaux and subsidiaries, and square any excess position without delay. The directive also imposes a financial penalty calculated at a 10% annual interest rate on the excess amount for breaches of the limit, and a daily penalty of Birr 1,000 for failure to submit required daily reports. This directive repeals Directive No. SBB/23/1997 and enters into force on October 24, 2001.

Ethiopia

National Bank of Ethiopia

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