Regulatory Alerts2013-04-22 | 35-01-005-0007-06Added · Updated
Reserve Requirements
The Central Bank of Sri Lanka issued Operating Instructions No. 35/01/005/0007/06 on 22 April 2013 to mandate that commercial banks maintain reserves equal to 8 percent of their total Sri Lanka rupee-denominated deposit liabilities. These reserves must be held as rupee deposits with the Central Bank, calculated based on average daily liabilities over two monthly periods, with an allowance for holding currency notes and coins as part of the requirement. The regulations, effective from 1 May 2013, supersede previous rules and impose penalties on banks that fail to meet these reserve obligations.
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