RegAlert2023-01-02 | Circular No. 1 of 2023Added · Updated
Central Bank of Sri Lanka Circular No. 01 of 2023: Bank Rate Adjustment
The Central Bank of Sri Lanka issued Circular No. 01 of 2023 to adjust the Bank Rate effective from the close of business on 02 January 2023. The new rate is calculated by adding a margin of 300 basis points to the latest Average Weighted New Deposit Rate, rounded to the nearest half percentage point. This directive rescinds Circular No. 01 of 2022 and applies to all Licensed Commercial Banks.
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CENTRAL BANK OF SRI LANKA
Domestic Operations Department
Circular No. 01 of 2023
02 January 2023
To: All Licensed Commercial Banks
Central Bank’s Rate of Interest on Advances (Bank Rate)
Licensed Commercial Banks (LCBs) are hereby informed that effective from the close of business on 02 January 2023, the Bank Rate, which is an administratively determined rate that could be used in periods of emergency for the Central Bank to grant extraordinary loans or advances to LCBs, will commensurately be adjusted in line with the latest available Average Weighted New Deposit Rate (AWNDR) published by the Central Bank of Sri Lanka with a margin of +300 basis points, rounded off to the nearest multiple of half a percentage point.
Accordingly, the Circular No. 01 of 2022 dated 03 November 2022 on Central Bank’s Rate of Interest on Advances (Bank Rate) is hereby rescinded.
(Signed)
Dr. P A Anil Perera
Director/ Domestic Operations
📞 +94 112 477036
📠 +94 112 346287
📧 ddod@cbsl.lk
🌐 www.cbsl.gov.lk
Level 7, Tower 2
No. 30, Janadhipathi Mawata
P.O. Box 590, Colombo 01, Sri Lanka
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Lineage: In force
Timeline
This document supersedes: Central Bank's Rate of Interest on Advances (Bank Rate)
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Source: Central Bank of Sri Lanka — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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