Regulatory Alerts2012-07-09
Banking Circular No 3 of 2012 - Multiple Tenures on Term Auction Deposit (TAD) Facility
The Central Bank of Kenya has announced a reduction in the Central Bank Rate (CBR) by 150 basis points from 18.00% to 16.50%, following the Monetary Policy Committee's meeting on 5th July, 2012. This change is immediate and applicable for all commercial banks under their jurisdiction.
BANKI CENTRAL KUU YA BANK OF KENYA KENYA Haile Selassic Avenue P. O. Box 60000 - 00200 Nairobi, Kenya Telephone: 2860000, Fax: 340192 6th July, 2012 BANKING CIRCULAR NO. 4 OF 2012 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS REVIEW OF THE CENTRAL BANK RATE(CBR) The Central Bank of Kenya wishes to inform all Commercial Banks that the Monetary Policy Committee (MPC) at its meeting held on 5th July, 2012 reviewed the CBR downwards by 150 basis points from 18.00 per cent to 16.50 per cent.
The above changes take effect immediately.
Lesiit Mark L DIRECTOR, BANKING SERVICES & RISK MANAGEMENT DEPARTMENT