CENTRAL BANK OF SRI LANKA

Domestic Operations Department

OPERATING INSTRUCTIONS NO. 35/01/005/0007/10

19 September, 2018

To: All Licensed Commercial Banks

RESERVE REQUIREMENTS

Your attention is invited to the notification made by the Monetary Board of the Central Bank of Sri Lanka under Sections 10(c), 93, 94, 96 and 97 of the Monetary Law Act (Chapter 422 of Ceylon Legislative Enactments) as amended by Regulation “D” published in the Gazette Extraordinary of the Democratic Socialist Republic of Sri Lanka No. 2089/28 of 19 September, 2018 on the above subject.

A. The Licensed Commercial Banks are hereby informed that in accordance with the said notification, they should maintain minimum reserve amounting to:

(i) hundred per centum (100 %) of margin kept against letters of credit specified in the Circular No, 35/01/005/0010/20 dated 19 September 2018 on “Margin Requirements against Letters of Credit for importation of Motor Vehicles”, and

(ii) seven point five per centum (7.5%) of total other deposit liabilities denominated in Sri Lanka Rupees.

B. Schedule A of Operating Instructions No. 35/01/005/007/06 of 22 April, 2013 is replaced by attached ‘Schedule A’.

The above amendment takes effect from 16 October 2018. All other instructions contained in our Operating Instructions No. 35/01/005/007/06 and 35/01/005/007/07 of 22 April, 2013 will continue to apply.

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C.A. Abeyasinghe
Director / Domestic Operations

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7 වැනි මාරුව, 2 වැනි කුරුළු
අංක 30, ජ්යානධිපති මාවතා
පො. බො. 590, කොළඹ 01, ශ්රී ලංකාව
+94 112 477036
+94 112 346287
ddod@cbsl.lk
www.cbsl.gov.lk

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Level 7, Tower 2
No. 30, Janadhipathi Mawata
P.O. Box 590, Colombo 01, Sri Lanka

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SCHEDULE A

FORM OF REPORT

REPORT OF DAILY AVERAGE DEPOSIT LIABILITIES

Name of the Bank : ___________________________________________________________

For the period from () to ()

Date	Date

To: Director,
Domestic Operations Department,
Central Bank of Sri Lanka
Colombo 01

The average amounts of deposit liabilities reported below are based on the deposit balances shown by the books of the Banks at the close of business of each day of the period specified above.

(i) Demand Deposits	(ii) Time and Savings Deposits	(iii) Margins against Letters of Credit	(iv) All other Deposit Liabilities¹

¹ In the case of Certificate of Deposits the amount declared should be the paid up value.

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REQUIRED RESERVES

For the period commencing _______________________________________________________

Item	In Sri Lankan Rupees
1. 100% of Average daily total Margins against Letters of Credit specified under the Circular No 35/01/005/0010/20, dated 19 September 2018 on margin requirements)
2. 7.5% of Average daily total Rupee Deposit Liabilities excluding (1) above
3. Average of Sri Lanka Currency Notes and Coins held over and above 2% of average deposit liabilities covered in (1) and (2), but not exceeding 4%
4. Total reserves required to be maintained over the reserve maintenance period (1+2-3)

We/I hereby certify that the above statement is correct and in accordance with the book of this bank and that the figures shown above are in accordance with the regulations prescribed by the Monetary Board of the Central Bank of Sri Lanka for the purpose.

Date: ________________________
Official Signature

Note –

(a) Deposits and placements made by any institution other than licensed commercial banks, shall be accounted for maintenance of required reserves at prescribed ratios.

(b) All amounts should be shown to the nearest rupee.