Regulatory Alerts2013-06-26 | BSD/DIR/GEN/RRTB/06/027Regulatory Reporting of FGN-Issued and CBN-Issued Treasury Bills
The Central Bank of Nigeria (CBN) has instructed all Deposit Money Banks (DMBs) to report Federal Government (FG)-issued and CBN-issued treasury bills separately, with FG-issued bills under Code 10410: Treasury Bills and CBN-issued bills under Code 10430: CBN Registered Certificates. This distinction is vital for monitoring these instruments as they serve different purposes: CBN bills are essential for monetary policy implementation.
BSD/DIR/GEN/RRTB/06/027 June 12, 2013 LETTER TO ALL BANKS REGULATORY REPORTING OF FGN-ISSUED AND CBN-ISSUED TREASURY BILLS It has been observed that DMBs report both FG-issued and CBN-issued treasury bills as 'treasury bills' on their balance sheet on e-FASS. Whilst this categorization is sufficient for liquidity management purposes, it should be noted that CBN bills also serve as instruments of monetary policy. In order to enhance the monitoring of these instruments, henceforth all DMBs are required to report CBN-issued and FG-issued treasury bills separately. While FG- issued treasury bills should continue to be reported under Code 10410: Treasury Bills, CBN-issued treasury bills should be reported under Code 10430: CBN Registered Certificates. Yours faithfully, B.A. FAKUNLE FOR: DIRECTOR, BANKING SUPERVISION