RegAlertRule · BOZ · 10 Mar 2014
Penalty on Late Settlement of Government Securities Transactions
The Bank of Zambia has instituted a penalty on the late settlement of government securities transactions, effective March 10, 2014. This charge is calculated using the Bank of Zambia Overnight Lending Rate as its baseline metric. The measure aims to strengthen market discipline by incentivizing timely settlement of government debt obligations.
BANK Of ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - ADMINISTRATION 10 March, 2014 CB Circular No: 06/2014 To All Heads of Commercial Banks PENALTY ON LATE SETTLEMENT OF GOVERNMENT SECURITIES TRANSACTIONS Notice is hereby given that effective March 10,2014, there shall be a penalty on late settlement of Government Securities Transactions. The BoZ Overnight Lending Rate (OLR) shall be the basis for computing the penalty on delayed settlement of Government Securities Transactions. The introduction of a penalty on late settlement of Government Securities Transactions has been necessitated to enhance market discipline. \ D~abUla DEPUTY GOVERNOR - ADMINISTRATION Cc Governor Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia. Tel: +260-211-229930 Fax: +260-211-222808 E-mail: tkmabula@boz.zm. Web: http://www.boz.zm
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Source: Bank of Zambia — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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