RegAlert2015-07-24
Added · Updated
Banking Circular No 8 of 2015 - Review of CBR and Introduction of a 3-day Repo
This Kenyan banking circular from July 9th, 2015 advises chief executives of commercial banks regarding changes in the Central Bank Rate (CBR) and introduction of a 3-day repo. The CBR has been raised to 11.50 percent and will be available Monday to Thursday each week. Interest rates for various operations have been adjusted accordingly, with the highest acceptable interest rate for Repo bids being 11.50%, the lowest for Reverse Repo bids also at 11.50%, successful Term Auction Deposits (TAD) attracting an interest rate of 14.00%, and borrowing from the Central Bank of Kenya's Overnight Window attracting an interest rate of 17.50%.
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KENYA
July 9, 2015
P. O. Box 60000 - 00200 Telephone: 2860000, Fax BANKING CIRCULAR NO. 8 OF 2015 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS BANK RATE (CBR) AND REVIEW OF THE CENTRAL INTRODUCTION OF A 3-DAY REPO This is to advise you that following the Monetary Policy Committee decisions to raise the CBR to 11.50 percent and introduce a 3-day Repo that will only be available as from Monday to Thursday every week. The rates hereunder shall take immediate effect.
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The highest interest rate that the Central Bank of Kenya will accept on Repo bids is 11.50 percent.
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The lowest interest rate that the Central Bank of Kenya will accept on Reverse Repo bids is 11.50 percent.
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Successful Term Auction Deposits (TAD) bids will attract an interest rate of 14.00 percent.
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Borrowing from the Central Bank of Kenya Overnight Window will attract an interest rate of 17.50 percent.
NYAOMA
GERA
DIRECTOR, FINANCIAL MARKETS
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Source: Central Bank of Kenya — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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