Regulatory Alerts2001-01-11
Added · Updated
Bank of Zambia Circular 02/2001: New Open Market Operations Bid/Offer Limits
The Bank of Zambia has revised the minimum transaction amounts and multiples for commercial bank participation in Open Market Operations. Effective January 15, 2001, the minimum bid or offer amount increases from K50 million to K500 million, while transaction multiples rise from K50 million to K100 million. All other regulatory conditions governing these operations remain unchanged, and banks must comply with the new thresholds for all future transactions.
Tel. 228888/228903-20
January 11, 2001
CB Circular No 02/2001
To : All Commercial Banks
Dear Sirs/Madam
NEW OPEN MARKET OPERATIONS BID/OFFER LIMITS
Reference is made to circular No. SCH/CB//6/95 dated 22 February 1995 in which the Bank of Zambia advised commercial banks of the minimum amount to be transacted at the Open Market Operations.
The Bank of Zambia wishes to advise all commercial banks that with effect from Monday, 15 January, 2001, the minimum amount to be transacted at the Open Market Operations has been revised upwards from K50 million to K500 million. Be further advised that the multiples at which transactions will be conducted thereafter have also been revised upwards from K50 million to K100 million.
All other conditions governing the Open Market Operations remain unchanged.
Yours faithfully
Dr Abraham Mwenda
DEPUTY GOVERNOR - OPERATIONS
BANK OF ZAMBIA
P.O. BOX 30080
Lusaka
10101
More like this from BOZ
BOZ published 2 documents in the last 30 days. We email you each new one the day it's published.