Regulatory Alerts2024-01-01
Bank of Zambia Draft Global Master Repurchase Agreement Circular 18/2024
The Bank of Zambia has issued Circular 18/2024 to promote the adoption of the Global Master Repurchase Agreement (GMRA) 2011 version for both vertical and horizontal interbank transactions. The central bank is reviewing the standard agreement to align it with evolving market structures and global practices, thereby enhancing counterparty risk management and interest rate monetary policy transmission. Commercial banks are required to execute the GMRA, limit negotiations to Annex I proposals, and submit written comments by November 15, 2024.
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