Exceptional Exemptions from Banks' Required Investments

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Intermediary Circular No. 706 for Banks

Draft decision for intermediaries No. 706 dated 2024/9/11 regarding the intermediary circular for banks No. 13660 dated 2024/9/11 regarding exceptional exemptions from investments for banks according to the basic decision No. 13217 dated 2020/4/9 regarding the exemptions from investments for banks according to the basic decision No. 150

Beirut, on 11 July 2024 Governor of the Central Bank of Lebanon By proxy: Dr. Wissam Mansouri

Intermediary Decision No. 13660 Amendment to Basic Decision No. 13217 dated 2020/4/9

The Governor of the Central Bank of Lebanon, Based on Articles 70 and 174 of the Monetary and Credit Law, particularly And based on Basic Decision No. 13217 dated 2020/4/9 and its amendments regarding exceptional exemptions from investments for banks, And based on the decision of the Central Bank Council taken in its meeting held on 2024/8/21, Decides as follows:

Article One: The text of the first paragraph of "Article Three bis" of Basic Decision No. 13217 dated 2020/4/9 is repealed and replaced with the following text: » Each bank shall deposit an amount equivalent to 100% of the value of "funds" referred to in Article One above, in cash or at the Central Bank of Lebanon in a "cash funds" account as stipulated in Basic Decision No. 13548 dated 2023/4/19 (Basic Circular No. 165), provided that this percentage is formed before the external liquidity ratio stipulated in Basic Decision No. 13262 dated 2020/8/27 (Basic Circular No. 154).«

Article Two: This decision takes effect upon its issuance. Article Three: This decision is published in the Official Gazette.

Beirut, on 11 July 2024 Governor of the Central Bank of Lebanon By proxy: Dr. Wissam Mansouri