Please refer to DMMD Circular No.1
dated 15th August 2009 and Circular No. 25 dated 14th
December, 2012. Following changes are announced with reference
to these circulars:.
1. There is no change in the SBP
Overnight Reverse Repo (Ceiling) rate and will be available
at 9.50% p.a.
2. The SBP Overnight Repo rate has been increased from
6.50% to 7.00% 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 7.00% and 9.50%
p.a. respectively. (i.e. width of 250bps).
4. Above changes are effective from
11th February 2013.
5. In case an eligible institution
accesses either of the above facilities more than 7 times
during a given quarter, a spread of plus/minus 50bps will
be applied over & above the applicable SBP Overnight
Reverse Repo & Repo Rates respectively for the remainder
of the same quarter.
6. Other instructions on the subject
shall, however, remain unchanged.
Please acknowledge receipt.