Regulatory Alerts2022-10-07 | 13485Exceptional measures to reactivate the work of banks operating in Lebanon
The Central Bank of Lebanon, through Governor Riad Safieh, issued Decision No. 13485 amending Article Three of its August 2020 exceptional banking framework. It mandates all Lebanese banks to maintain an external account, free from correspondent obligations, that must not fall below 3% of their total foreign currency deposits as valued on September 30, 2022. Adopted by the Central Bank Council on October 5, 2022, the decision takes immediate effect and is published in the Official Gazette.
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