Regulatory Alerts2024-11-29 | FMD/DIR/PUB/CIR/001/022SUPERSEDED CIRCULAR - OPERATIONALISATION OF THE STANDING DEPOSIT FACILITY (SDF) ASYMMETRIC CORRIDOR: POST 298TH MEETING OF THE MONETARY POLICY COMMITTE (MPC)
The Central Bank of Nigeria's Monetary Policy Committee (MPC) has decided to retain the Asymmetric Corridor at +500/-100 around the MPR and remove the second tier of the Standing Deposit Facility (SDF) of 19% on deposits above 43 billion. Consequently, all SDF will now be remunerated at a single-tier rate of MPR minus 100 basis points, which currently stands at 26.50%. This new circular supersedes the previous one issued on August 26, 2024.