Regulatory Alerts2013-04-22 | 35-01-005-0007-07Reserve Requirements - Minimum Daily Deposit
The Central Bank of Sri Lanka issued this directive to all licensed commercial banks to enforce minimum daily deposit requirements under Regulation D. The Monetary Board determined that banks must hold a minimum daily deposit equal to ninety percent of their required reserves on any given day. This instruction implements provisions of the Monetary Law Act to ensure adequate liquidity within the banking system.
Domestic Operations Department 94 11 2477189 94 11 2346287 cbslgen@cbsl.lk www.cbsl.gov.lk Level 7, Tower 2, No. 30, Janadhipathi Mawatha, P. O. Box. 590, Colombo 01, Sri Lanka. Operating Instructions No. 35/01/005/0007/07
Domestic Operations Department 22 April 2013 To: All Licenced Commercial Banks
RESERVE REQUIREMENTS – MINIMUM DAILY DEPOSIT Your attention is invited to the notification made by the Monetary Board of the Central Bank of Sri Lanka under Sections 10(c), 93, 94, 96 and 97 of the Monetary Law Act (Chapter 422 of Ceylon Legislative Enactments), as amended and the Regulation “D” published in the Gazette Extraordinary of the Democratic Socialist Republic of Sri Lanka No. 1805/39 of 12 April 2013 in terms of which all commercial banks are required to hold minimum daily deposit in the Central Bank. For the purpose of Regulation 6 of Regulation “D”, the Monetary Board of the Central Bank of Sri Lanka has determined that the minimum daily deposit required to be held by a commercial bank to be ninety (90) per centum of the required reserves on any given day. Sgd. R A A Jayalath Director / Domestic Operations