DMMD Circular No. 16 of 2011 |
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The Presidents/ Chief Executives,
All Commercial Banks/ Primary Dealers
Dear Sirs/ Madam,
SBP Overnight Repo / Reverse-Repo Facilities
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Please refer to DMMD Circular No.1 dated 15th August 2009 and Circular No. 12 dated 30th July, 2011. Following changes are announced with reference to these circulars:
- The SBP Overnight Reverse-Repo (Ceiling) rate has been reduced from 13.50% to 12.00% p.a.
- The SBP Overnight Repo facility will be available at 9.00% 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 9.00% and 12.00% p.a. respectively (i.e. width of 300 bps).
- Above changes are effective from 10th October 2011.
- Other instructions on the subject shall, however, remain unchanged.
Please acknowledge receipt.
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Yours Sincerely,
Sd/-
Muhammad Ali Malik
Director
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