Regulatory Alerts2003-01-01
Banks Act Circular 3/2003: Positions Denominated in Foreign Currency Held by Banks
The Registrar of Banks issued this circular to amend reporting requirements for banks holding foreign-currency positions, aiming to better distinguish between loans and investment assets. Banks must now report gold, cash, loans, and investment positions in specific line items of form DI 100 to accurately calculate their aggregate effective net open foreign-currency position. These new reporting arrangements apply to periods starting from April 2003 and require signed acknowledgements from chief executives and auditors.
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