Regulatory Alerts2023-11-17 | 13593Added · Updated
Central Bank of Lebanon Decision No. 13593 Clarifying the Application of Decisions 6568 and 6576
Decision No. 13593 amends Articles 1, 8, 9 bis, 12 bis, and 5 of Decisions 6568 and 6576 to clarify FX position calculation methods and deposit requirements for banks and financial institutions. It establishes specific netting rules for special long positions, sets caps at 1% for banks and 100%/5% for financial institutions on net trading positions, and mandates a 3x reserve deposit for any breaches. Banks are granted deadlines of December 31, 2024, and December 31, 2025, to liquidate excess open long and short FX positions calculated as of December 31, 2023, under penalty of further reserve deposits.
Topics
capital
fx
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