Regulatory Alerts2026-08-28
Added
Operating Rules and Guidelines for the Overnight Lending Facility
Commercial banks with clearing accounts at the Bank of Zambia may access the Overnight Lending Facility via a direct route using the Central Securities Depository system or an automatic route converting unpaid intra-day credit. Eligible collateral includes Treasury bills and Government bonds with more than seven days to maturity, subject to a 5% haircut margin. Applications are submitted electronically starting at 08:15, with authorization occurring between 15:00 and 16:00 hours, and settlement takes place on the same day. Failure to repay by the Delivery versus Payment cut-off time results in default, forfeiture of collateral, and a penalty calculated using the Bank of Zambia penalty rate.
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