Please refer to DMMD Circular No.1 dated 15th August 2009 and Circular No. 16 dated 08th October, 2011. Following changes are announced with reference to these circulars:

1. The SBP Overnight Reverse-Repo (Ceiling) rate has been reduced from 12.00% to 10.50% p.a.

2. The SBP Overnight Repo facility will be available at 7.50% p.a. This will serve as the ‘Floor’ for the Interest Rate corridor as announced by the above referenced circular.

3. Hence, the Floor and Ceiling levels for the interest rate corridor are 7.50% and 10.50% p.a. respectively (i.e. width of 300 bps).

4. Above changes are effective from 13th August 2012.

5. Other instructions on the subject shall, however, remain unchanged.

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