Regulatory Rules of Circular 7926 Concerning Banks' Foreign Currency Investments, Monetary Reserve Requirements, Minimum Special Reserves, and Required Investments of Islamic Banks

Circular No. 599
To Banks:
We enclose a copy of Central Decision No. 13,372 dated November 3, 2021, concerning the amendment of:

• Central Decision No. 7,935 dated September 27, 2001 (Implementing Rules for Central Decision No. 7,926 dated September 20, 2001 (Banks' Mandatory Investments)), attached to Circular No. 87.
• Central Decision No. 9,763 dated November 9, 2007 (Mandatory Monetary Reserve and Minimum Special Reserve for Islamic Banks and their Mandatory Investments), attached to Circular No. 113.

Beirut, November 3, 2021
Governor of the Central Bank of Lebanon
Riad T. Salam

Central Decision No. 13,372
Amendment of Central Decision No. 7,935 dated September 27, 2001 and Central Decision No. 9,763 dated November 9, 2007

The Governor of the Central Bank of Lebanon,
Pursuant to Articles 17 and 70 of the Monetary and Banking Law, Pursuant to Central Decision No. 7,935 dated September 27, 2001 and its amendments concerning the implementing rules for Central Decision No. 7,926 dated September 20, 2001 (Banks' Mandatory Investments), Pursuant to Central Decision No. 9,763 dated November 9, 2007 and its amendments concerning the mandatory monetary reserve, minimum special reserve for Islamic banks, and their mandatory investments, Pursuant to Central Decision No. 13,262 dated August 27, 2020 concerning exceptional procedures to activate the operations of banks operating in Lebanon, Pursuant to Central Decision No. 13,335 dated June 8, 2021 and its amendment concerning exceptional procedures for the gradual repayment of foreign currency deposits, Pursuant to a resolution adopted by the Central Council of the Central Bank of Lebanon at its meeting held on October 27, 2021,

Has Decided the Following:

Article One: The text of Annex (-10RO) attached to Central Decision No. 7,935 dated September 27, 2001 is repealed and replaced by the new text attached to this Decision.

Article Two: The text of Annex (-20RO) attached to Central Decision No. 9,763 dated November 9, 2007 is repealed and replaced by the new text attached to this Decision.

Article Three: This Decision takes effect for the period from Thursday, December 2, 2021, through Wednesday, December 8, 2021.

Article Four: This Decision shall be published in the Official Gazette.
Beirut, November 3, 2021
Governor of the Central Bank of Lebanon
Riad T. Salam

Central Bank of Lebanon
Statistics and Economic Research Department

1 Foreign currency liabilities subject to the 14% rate imposed by Central Decision No. 7,926 Attached to Circular No. 86 and Central Decision No. 7,935 attached to Circular No. 87 Form -10RO Average between _______________ and ___________________ Bank Number:
Bank Name: Valued in US Dollars

Account Code	Description
20100	Other non-resident issuing institutions
20180	Less: Accrued but unpaid interest (non-resident)
20200	Non-resident commercial banks
x20200	Less: New accounts subject to Circular No. 150
20250	Less: Current accounts against loans (non-resident)
20280	Less: Accrued but unpaid interest (non-resident)
20300	Non-resident medium and long-term credit institutions
x20300	Less: New accounts subject to Circular No. 150
20370	Less: Current accounts against loans (non-resident)
20380	Less: Accrued but unpaid interest (non-resident)
20500	Resident and non-resident financial institutions
x20500	Less: New accounts subject to Circular No. 150
20560	Less: Current accounts against loans
20580	Less: Accrued but unpaid interest
23900	Other resident and non-resident financial sector institutions
x23900	Less: New accounts subject to Circular No. 150
23960	Less: Current accounts against loans
23980	Less: Accrued but unpaid interest
20800	Customer deposits (resident and non-resident)
x20800	Less: New accounts subject to Circular No. 150
s20800	Less: Special accounts subject to Circular No. 154
y20800	Less: Exchange accounts subject to Circular No. 157
g20800	Less: Branch special accounts subject to Circular No. 158
20871	Less: Insurance for documentary credits for imports
20890	Less: Current accounts against loans
20895	Less: Accrued but unpaid interest
24300	Deposits originated by credit contracts (resident and non-resident)
x24300	Less: New accounts subject to Circular No. 150
24301	Less: Accrued but unpaid interest included therein
20900	Public sector deposits
x20900	Less: New accounts subject to Circular No. 150
20980	Less: Accrued but unpaid interest
21000	Payment values for residents and non-residents
x21000	Less: New accounts subject to Circular No. 150
21210	Other debtors - resident and non-resident private sector
x21210	Less: New accounts subject to Circular No. 150
21221	Other debtors - public sector current accounts
x21221	Less: New accounts subject to Circular No. 150
21300	Partners - resident and non-resident
x21300	Less: New accounts subject to Circular No. 150
s21300	Less: Special accounts subject to Circular No. 154
y21300	Less: Exchange accounts subject to Circular No. 157
g21300	Less: Branch special accounts subject to Circular No. 158
21325	Less: Accrued but unpaid interest
21330	Less: Cash advances designated to cover reserve fund shortages
21350	Less: Deposits designated to increase own funds
z21700	Bonds and similar instruments (maturity one year or less)
21748	Less: Accrued but unpaid interest at fair value against profit and loss account
21755	Less: Accrued but unpaid interest classified at amortized cost
23000	Foreign branches
x23000	Less: New accounts subject to Circular No. 150
23050	Less: Current accounts against loans
23080	Less: Accrued but unpaid interest
z23100	Head office, parent institution, banks and financial institutions (sister and subsidiary companies, excluding resident banks)
x23100	Less: New accounts subject to Circular No. 150
23150	Less: Current accounts against loans
23180	Less: Accrued but unpaid interest
z24600	Certificates of deposit at fair value against profit and loss account (maturity one year or less / excluding those sold to resident banks)
24680	Less: Accrued but unpaid interest
z24700	Certificates of deposit at amortized cost (maturity one year or less / excluding those sold to resident banks)
24780	Less: Accrued but unpaid interest
99999	Total resident liabilities in US Dollars

Note: Review of Article 1 of Basic Decision No. 7,926: Bonds, deposit certificates, and bank certificates issued by banks, and loans obtained from the financial sector, with only one year or less remaining until maturity for each. Name: ------------------------------ Signature: -----------------------------

Foreign currency liabilities for Islamic banks subject to Decision 9,763 Form -20RO Average of the week ending //____ Bank Name: Islamic _________ Valued in US Dollars

Account Code (Islamic Banks Status - Form 3010)	Description
201000	Issuing institutions - non-resident
202000	Banks and financial institutions (resident and non-resident) (1)
x20200	Less: New accounts subject to Circular No. 150
203000	Foreign branches
x20300	Less: New accounts subject to Circular No. 150
204000	Parent institution, sister and subsidiary companies (resident and non-resident, excluding resident banks)
x20400	Less: New accounts subject to Circular No. 150
205000	Public sector accounts
x20500	Less: New accounts subject to Circular No. 150
206000	Investment accounts - customers (resident and non-resident)
x20600	Less: New accounts subject to Circular No. 150
s20600	Less: Special accounts subject to Circular No. 154
y20600	Less: Exchange accounts subject to Circular No. 157
g20600	Less: Branch special accounts subject to Circular No. 158
207000	Partner current accounts - resident and non-resident
x20700	Less: New accounts subject to Circular No. 150
s20700	Less: Special accounts subject to Circular No. 154
y20700	Less: Exchange accounts subject to Circular No. 157
g20700	Less: Branch special accounts subject to Circular No. 158
207900	Less: Accounts to cover bad debt losses
209000	Issued Sukuk - resident and non-resident
209800	Less: Accrued but unpaid liabilities
211000	Creditor debts - resident and non-resident
212110	Other debtors, private sector - resident and non-resident
x21211	Less: New accounts subject to Circular No. 150
212300	Payment values – resident and non-resident
x21230	Less: New accounts subject to Circular No. 150
299999	Total resident liabilities in US Dollars

Investment accounts subject to minimum reserve at Islamic banks Investment account liabilities 322000 999999 Total resident liabilities and investment accounts in US Dollars

Fax Number: ______________________________________ Responsible Person Name: __________________________ Signature: ___________________

(1) This amount represents a portion of the figure in item 202,000 (Banks and financial institutions) in Form 3010.