Regulatory Alerts1994-01-01
Bank of Zambia Circular 13/1994 on Open Position Limits
The Bank of Zambia requires all commercial banks to strictly adhere to their designated open position limits for foreign exchange holdings. Effective immediately, any bank found holding foreign exchange in excess of its set limit will be disqualified from participating in foreign exchange market dealings for that day. This enforcement action responds to recent regulatory returns indicating widespread non-compliance with existing position caps.
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