Regulatory Alerts2020-06-17 | Operating Instruction No. 35/01/005/0007/17Central Bank of Sri Lanka Operating Instructions on Reserve Requirements
The Central Bank of Sri Lanka issued Operating Instructions No: 35/01/005/0007/17 requiring Licensed Commercial Banks to maintain reserves against Sri Lankan Rupee deposit liabilities at a rate of two percent. The directive, effective from the maintenance period commencing 16 June 2020, updates Schedule A of previous instructions to define the specific calculation methods for required reserves. Banks must report daily average Rupee deposit liabilities and can count up to one percent of average currency holdings over and above the two percent base as part of their reserve requirements.
Share