Banking Circular No 3 of 2012 - Multiple Tenures on Term Auction Deposit (TAD) Facility — CBK — KE

BANKI
KUU YA
KENYA
Haile Selassie Avenue P. O. Box 60000 - 00200 Nairobi, Kenya Telephone: 2860000. Fax: 34019 BANKING CIRCULAR NO. 03 OF 2012 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS

Multiple Tenures On Term Auction Deposit (Tad) Facility

We write with reference to Banking Circular No. 3 dated April 28, 2008 introducing Term Auction Deposit Facility as an additional instrument for conducting Open Market Operations.

The Central Bank has found it necessary to review this instrument in line with changing .liquidity environment in the market. To this end the Central Bank hereby announces the introduction of multiple tenures of 14, 21 and 28 days for this Facility with effect from 6th June 2012. The price ceiling of the instrument will be the CBR which is currently 18%. The multiple range of tenures will provide flexibility to commercial banks on choice of tenure and also serve as an alternative investment instrument All other operational terms on TAD instrument remain as previously communicated.

GERALD A. NYAOMA
DIRECTOR, FINANCIAL MARKETS DEPARTMENT 06 May 2012

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Banking Circular No 3 of 2008 - Term Auction Deposit2008 · CBK
“We write with reference to Banking Circular No. 3 dated April 28, 2008 introducing Term Auction Deposit Facility as an additional instrument for conducting Open Market Operations.”

Multiple Tenures On Term Auction Deposit (Tad) Facility

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