July 30, 2011
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 dated 15th August 2009 and Circular No. 3 dated 29th November, 2010. Following changes are announced with reference to these circulars: The SBP Overnight Reverse-Repo (Ceiling) rate has been reduced from 14.00% to 13.50% p.a. The SBP Overnight Repo facility will be available at 10.50% p.a. This will serve as the ‘Floor’ for the Interest Rate corridor as announced by the above referenced circular. Hence, the Floor and Ceiling levels for the interest rate corridor are 10.50% and 13.50% p.a. respectively (i.e. width of 300 bps). Above changes are effective from 01st August 2011. Other instructions on the subject shall, however, remain unchanged. Please acknowledge receipt.
Please refer to DMMD Circular No.1 dated 15th August 2009 and Circular No. 3 dated 29th November, 2010. Following changes are announced with reference to these circulars:
Please acknowledge receipt.
Yours Sincerely Sd/- Muhammad Ali Malik Director