All Banks
Dear Sirs,
FINANCING
FACILITIES BY STATE BANK
(REDUCTION IN REPO RATE)
(Reduction
in Repo rate from 10% to 9 %)
Please refer
to BSD Circular No. 39 dated the 20th October,
2001 through which the above rate has been reduced from 12%
to 10% on annual basis.
2.
It has been decided to further reduce the minimum rate
of return to be paid by recipients of financing facilities
from State Bank for meeting temporary liquidity shortages
and SBP 3 day Repo facility. Accordingly, effective from 23rd
January 2002 the minimum rate of return to be paid by recipients
of financing facilities from State Bank for meeting temporary
liquidity shortages and SBP 3 - day Repo facility against
Government of Pakistan Market Treasury Bills and Federal /
Pakistan Investment Bonds has been reduced from 10% to 9%
on annual basis.
3.
Other relevant instructions on the subject shall, however,
remain unchanged.
Please acknowledge
receipt.
|
