Circular on Electronic Submission of Weighted and Unweighted Interest Rate Data for Deposits and Facilities

10/5 /7612 6 /11/1441 AH 28 / 6/2020 AD

Circular to Licensed Banks

Greetings,

Based on the provisions of Article (45/A) of the Central Bank of Jordan Law No. (23) of 1971 and its amendments, and within the framework of the Central Bank's efforts to improve the accuracy of evaluating changes in interest rates on deposits and facilities at licensed banks, linking them with the time periods in which changes occur and ensuring their alignment with monetary policy trends, please proceed with the following:

Firstly – Provide the Central Bank, starting from the beginning of each month and no later than the end of the first working week, with the following [according to the attached forms, a copy of which will be circulated electronically to compliance officers via email from us]: electronically (Soft Copy) to the email address: (DMAND@cbj.gov.jo):

1. The weighted average interest rates on facilities granted or renewed, and the interest rates on deposits linked or renewed during the previous month.
2. The unweighted nominal interest rates for both direct deposits (linked/granted/renewed) and facilities during the previous month.

Secondly – Implement the above starting from data dated 31/12/2019, and cease providing us with data in paper format.

Thirdly – The content of our Circular No. (10/2/2/12188) dated 8/10/2014 is hereby repealed.

Please accept our highest regards,

The Governor Dr. Ziad Fries

• Attached