Regulatory Alerts1998-01-01
Bank of Zambia Circular 12/1998 on Correspondent Banking Relationships
Bank of Zambia requires all commercial banks to submit detailed information regarding their overseas correspondent banking relationships. This data, specifically correspondent balances as of 30 November 1998, will be used to assess the exposure of Zambian public deposit funds to foreign jurisdictions ahead of the Year 2000 compliance deadline. Institutions must return the completed schedule by 17 December 1998 and retain hard copy statements for potential regulatory verification.
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