Investments in Sri Lanka International Sovereign Bonds by Licensed Commercial Banks and National Savings Bank — CBSL — LK

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CENTRAL BANK OF SRI LANKA
BANK SUPERVISION DEPARTMENT

11 December 2020 | BANKING ACT DIRECTIONS | No. 11 of 2020

INVESTMENTS IN SRI LANKA INTERNATIONAL SOVEREIGN BONDS BY LICENSED COMMERCIAL BANKS AND NATIONAL SAVINGS BANK

Issued in terms of the powers conferred by Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1988, as amended.

The Central Bank of Sri Lanka, with a view to easing the pressure on the exchange rate and the stress on financial markets due to the impact of the Covid-19 outbreak, requires the licensed commercial banks and National Savings Bank to suspend the purchase of Sri Lanka International Sovereign Bonds (ISBs) for a period of six months unless such purchase of ISBs is funded by new foreign currency inflows to such licensed banks sourced from abroad.

This Direction shall be implemented with immediate effect.

(Signature)

Prof. W D Lakshman
Chairman of the Monetary Board and
Governor of the Central Bank of Sri Lanka

Lineage: Superseded

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Superseded by

Investments in Sri Lanka International Sovereign Bonds by Licensed Commercial Banks and National Savings Bank2020 · CBSL
“Accordingly, the Banking Act Directions No. ll of 2020 dated 11 December 2020 on the above subject are hereby withdrawn.”

Issued under

Banking Act, No. 30 of 19881988 · LK-LAW
“Issued in terms of the powers conferred by Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1988, as amended.”

Lineage: Superseded

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