Regulatory Alerts2013-01-14
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Bank of Zambia Circular 09/2013: Calendar for Submission of Interest Rates and Other Returns
The Bank of Zambia issued Circular 09/2013 to establish submission deadlines for weekly and monthly interest rates, government accounts balances, and annual borrower and employment statistics for 2013. The circular mandates that all returns be filed through the Bank Supervision Application System and specifies that interest rates must now be reported in Kwacha Thousands following the currency re-denomination. Additionally, a penalty of K500.00 per day is imposed for any delayed submissions of the required regulatory data.
BANK of ZAMBIA
DEPUTY GOVERNOR - OPERATIONS
January 14, 2013
CB Circular No: 09/2013
To: All Commercial Banks
CALENDAR FOR SUBMISSION OF INTEREST RATES, GOVERNMENT ACCOUNTS BALANCES, ANNUAL NUMBER OF BORROWERS AND DEPOSITORS IN COMMERCIAL BANKS BY PROVINCE AND ANNUAL EMPLOYMENT IN BANKS BY OCCUPATION CATEGORY.
Further to the deployment of the revised Bank Supervision Application System, please note that returns submitted to our Economics Department will also be submitted through the BSA system. In this regard, please be informed that the due dates for submission of Monthly and Weekly Interest Rates, Annual Number of Borrowers and Depositors in Commercial Banks by Province, Annual Employment in Banks by Occupation Category and Government Accounts Balances Returns for 2013 are as follows:
WEEKLY INTEREST RATES RETURNS
| Week | Due |
|---|---|
| Every week | Wednesday |
MONTHLY INTEREST RATES AND GOVERNMENT ACCOUNTS BALANCES RETURNS
| Month | Due Date |
|---|---|
| January | 8 February 2013 |
| February | 11 March 2013 |
| March | 9 April 2013 |
| April | 9 May 2013 |
| May | 10 June 2013 |
| June | 10 July 2013 |
| July | 9 August 2013 |
| August | 9 September 2013 |
| September | 8 October 2013 |
| October | 8 November 2013 |
| November | 9 December 2013 |
| December | 9 January 2014 |
.........2/-
CB Circular No: 09/2013 - 2 - February 14, 2013
ANNUAL NUMBER OF BORROWERS AND DEPOSITORS IN COMMERCIAL BANKS BY PROVINCE AND ANNUAL EMPLOYMENT IN BANKS BY OCCUPATION CATEGORY
| Year | Due Date |
|---|---|
| 2012 | 20 February 2013 |
| 2013 | 9 February 2014 |
All returns should be submitted through the Bank Supervision Application System via https://mail.boz.zm/bsav30.
A penalty of K500.00 per return per day will be charged for any delayed submissions.
Further, kindly note that in view of the Re-denomination of Currency Act (No. 8 of 2012), the Bank of Zambia wishes to inform all commercial banks that effective 1st January, 2013, Monthly Interest Rates and Weekly Interest Rates, will be reported based on Kwacha Thousands instead of Kwacha millions. In this regard, enclosed is a copy of the rebased Monthly and Weekly Interest Rates; Government Accounts Balances; Annual Number of Borrowers and Depositors in Commercial Banks by Province; and Annual Employment in Banks by Occupation Category returns for your attention.
P.P. Bwalya K. E. Ng'andu (Dr)
DEPUTY GOVERNOR - OPERATIONS
Bank Square, Cairo Road P.O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888/9 Fax: 260-211-237070 E-mail: bngandu@boz.zm, http://www.boz.zm
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