DMD Circular No. 02: Implementation of Guidelines on Electronic Dealing System for Interbank Money Market (EDSMoney)

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Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh.

Data Management Department

01 Agrahayan 1428 Date: 16 November 2021

DMD Circular No. 02

Managing Director / Chief Executive All Scheduled Banks and Financial Institutions Operating in Bangladesh

Dear Sir,

Implementation of Guidelines on Electronic Dealing System for Interbank Money Market (EDSMoney Guidelines).

Interbank money market transactions for liquidity management of banks and financial institutions are a globally recognized method. To make this activity more dynamic, shock-absorbent, integrated, and up-to-date, Bangladesh Bank has created a Real Time Web-based platform called "Electronic Dealing System for Interbank Money Market (EDSMoney)." Banks and financial institutions have been using this platform on a trial basis since March 03, 2021. To ensure the smooth operation of the interbank money market, "Guidelines on Electronic Dealing System for Interbank Money Market (EDSMoney)" containing guidelines for participants of this market have been formulated, which are issued through this circular. It is mentioned that the term 'Interbank' or 'Interbank' transactions mentioned in this circular and guidelines refers to transactions of participating scheduled banks, as well as approved financial institutions and other institutions, on the EDSMoney platform.

2. According to the guidelines provided herein, all types of transactions (Overnight, Short Notice, and Term) in the Unsecured Segment of the interbank money market will now be conducted through the EDSMoney platform. Since these transactions are executed on the EDSMoney platform on a Real Time basis, the reporting activities of participating institutions will be carried out through this platform as per schedule. However, the reporting activities will continue as per the instructions provided in Annexure 'A' for up to 03 (three) months from the date of full launch of the mentioned platform.

3. The guidelines mentioned in the EDSMoney Guidelines will come into effect immediately. Following the said guidelines, participating banks and financial institutions in the money market are required to compulsorily participate in full live operations on the EDSMoney platform starting from December 01, 2021.

Yours faithfully,

(Khandaker Siddiqur Rahman) General Manager Phone: 9530131

Phone: 88-02-9550448, 9554896, IP: 88-02-55685001-6, Fax: 88-02-9530499, www.bb.org.bd

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Data Management Department

Annexure 'A'

Regarding sending details of call money transactions via E-mail.

It is requested to comply with the following instructions regarding sending details of call money transactions:

1. The soft copy of call money details in Oracle Format as an attachment file must be sent to both accounts dmd.callmoney@bb.org.bd and callmoneymonitor@yahoo.com within a maximum of half an hour (between 4:00 PM and 4:30 PM) after the end of daily transactions, along with the name, designation, and phone number of the appropriate authority;

2. If there is any correction in the details, it must be corrected and sent again via E-mail as "Revised Statement" within 1 hour before the end of the working day;

3. If no call money transaction occurs, an E-mail must be sent within the specified time mentioning "Nil Statement."