DMMD Circular No. 3 of 2009 |
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The Presidents/ Chief Executives,
All Commercial Banks/ Primary Dealers,
Dear Sirs/ Madam,
SBP Overnight Repo / Reverse-Repo Facilities
Please refer to DMMD Circular No.1 and 2, dated 15th August 2009. Following changes are announced with reference to these circulars:
1. The SBP Overnight Reverse-Repo (Ceiling) rate has been reduced from 13.0% to 12.5% p.a.
2. The SBP Overnight Repo facility will be available at 9.5% 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 9.5% and 12.5% p.a. respectively (i.e. width of 300 bps).
4. Above changes are effective from 25th November 2009.
5. Other instructions on the subject shall, however, remain unchanged.
Please acknowledge receipt.
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Yours
sincerely,
Sd/-
Muhammad Faisal
Joint Director
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