Regulatory Alerts2015-01-01
Operating Rules and Guidelines for Open Market Operations and Overnight Lending Facility
The Bank of Zambia has issued revised operating rules and guidelines for Open Market Operations (OMO) and the Overnight Lending Facility (OLF) to all commercial banks. This update aligns transaction procedures with the newly implemented Central Securities Depository System, transitioning operations from manual to electronic processing. The revised framework takes effect immediately and mandates adherence to the updated electronic guidelines for all OMO and OLF activities.
[Logo: Bank of Zambia]
Bank of Zambia OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXE/DGO/fmkts/bp
November 18, 2015
CB Circular No. : 21/2015
To : All Heads of Commercial Banks
OPERATING RULES AND GUIDELINES FOR OPEN MARKET OPERATIONS (OMO) AND OVERNIGHT LENDING FACILITY (OLF)
Reference is made to the subject mentioned above.
The Bank of Zambia hereby issues revised Operating Rules and Guidelines for Open Market Operations (OMO) and the Overnight Lending Facility (OLF) following the implementation of the Central Securities Depository System (CSD). The review reflects the change from manual to electronic processing of OMO and OLF transactions.
Kindly be advised that these guidelines take effect immediately.
For any queries or clarifications regarding the matter at hand, kindly contact our Financial Markets Department.
[Signature]
Bwalya K. E. Ng’andu (Dr) DEPUTY GOVERNOR – OPERATIONS
Cc Governor
Bank Square, Cairo Road P .O. Box 30080, Lusaka, Zambia Tel: 260-211-226844, 228888 Fax:260-211-237070 E-mail:dgo@boz.zm.Web: http://www.boz.zm