Regulatory Alerts2005-08-08
Added · Updated
Treatment of Zambian and Foreign Public Holidays in Statutory Reserves and Core Liquid Asset Computation
The Bank of Zambia mandates that Zambian and foreign public holidays be fully included within the seven-day compliance period for calculating statutory reserves and core liquid asset requirements. This directive establishes a continuous Monday-through-Sunday assessment window, ensuring that holiday-related fluctuations do not disrupt regulatory calculations. Accordingly, penalty assessments for non-compliance are applied to the net shortfall measured over this complete holiday-inclusive timeframe.
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