Regulatory Alerts2017-11-01
Added · Updated
FEPD Circular Letter No. 16: Revision of Interest Rates for Long Term Financing Facility
Section 9.b of the LTFF Operations Manual is amended to establish an indicative pricing range of six-month USD LIBOR plus 2.00 to 3.00 percent for Participating Financial Institutions (PFIs). The specific spread depends on the PFI's CAMELS rating and the loan tenor, ranging from LIBOR + 2.00% for Banks with a CAMELS Rating of 1 and tenors up to 5 years, to LIBOR + 3.00% for Banks with a CAMELS Rating of 3 and tenors up to 10 years. For Islamic Shariah-based PFIs, the Islamic Interbank Benchmark Rate (IIBR) replaces LIBOR. These revised rates apply immediately to all existing and future LTFF loans.
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