Regulatory Alerts2019-06-28 | Circular LetterAdded · Updated
Reference Rates for Maximum Interest on Sri Lanka Rupee Deposits (Quarter Commencing 01 July 2019)
The Central Bank of Sri Lanka has established reference rates to calculate maximum interest payable on Sri Lanka Rupee deposits by licensed banks for the quarter commencing 1 July 2019. Under the Monetary Law Act Order No. 01 of 2019, the Standard Deposit Facility Rate is set at 7.50 percent and the simple average of recent 364-day Treasury Bill yields stands at 8.83 percent. Licensed banks must apply these benchmark figures to determine their applicable maximum interest rates for the specified period.
CENTRAL BANK OF SRI LANKA
වෙනි අඩුප්රතිමා සැලසුම්වලට අයත් විස්තර කොටස් තුළ Bank Supervision Department
28 June 2019
To - Chief Executive Officers of all Licensed Banks
Dear Sir/ Madam,
Reference Rates applicable for Maximum Interest Rates on Sri Lanka Rupee Deposits of Licensed Banks for Quarter commencing 01 July 2019
With reference to the Monetary Law Act Order No. 01 of 2019 on the ‘Maximum Interest Rates on Sri Lanka Rupee Deposits of Licensed Banks’, the Standard Deposit Facility Rate (SDFR) as at the end of the second quarter of 2019 and, the simple average of the Weighted Average Yield Rates (WAYR) relating to the last 04 accepted primary auctions for 364-days Treasury Bills conducted during the second quarter of 2019 are in Table 01 below.
Table 01: Applicable Reference Rates for Quarter commencing 01 July 2019
| Rate | % |
|---|---|
| SDFR | 7.50 |
| WAYR of 364-days Treasury Bills | 8.83 |
Yours faithfully
J P Gamalath
Acting Director of Bank Supervision
94 11 2477100/559
94 11 2477711
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