Extension of Reporting Deadline for 1–14 July 1998 Under BID-6

Bank of Namibia Correspondence to: P.O. Box 2882, Windhoek, Namibia Tel: +264-61-220486 Fax: +264-61-220154 Telex (0908) 710, Swift Code: CBKNNANX

Financial Institutions Department 3rd Floor, Sanlam Centre 154 Independence Avenue Windhoek

BANKING INSTITUTIONS ACT CIRCULAR - BIA 7/98

TO: ALL BANKING INSTITUTIONS

DATE: 3 JULY 1998

EXTENSION OF REPORTING DEADLINE FOR PERIOD 1 JULY TO 14 JULY 1998 IN TERMS OF BID-6 ISSUED UNDER THE BANKING INSTITUTIONS ACT, 1998 (ACT NO. 2 OF 1998)

1. BACKGROUND

This Circular serves to inform banking institutions of the reporting deadline on their compliance with the "Determinations on Minimum Liquid Assets Requirement (BID-6)" for the compliance period 1st to 14th of July 1998 that has been extended.

2. EXTENSION

Compliance for the said period above should be reported to the Bank on or before 21 August 1998 together with the report for the period 15 July to 14 August 1998, in accordance with paragraphs 2 and 3 of the "Determinations on Minimum Liquid Assets Requirements (BID-6)" issued under the Banking Institutions Act, 1998 (ACT. No. 2 of 1998). However, compliance for the period 21 to 30 June 1998 should be in terms of the Banking Institutions Act No. 22 of 1991.

3. Two additional copies of this Circular are enclosed for the use of your institution's external auditors. The attached acknowledgment of receipt duly completed and co-signed by the said auditors, should be returned to this Office at your earliest convenience.

R.W LAWRENCE SENIOR MANAGER: BANK SUPERVISION DEPARTMENT