Please refer to DMMD Circular No.1 dated 15th August
2009 and Circular No. 19 dated 13th September 2013. Following
changes are announced with reference to these circulars:
1. The SBP Overnight Reverse Repo (Ceiling) rate has
been increased from 9.50% to 10.00% 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 10.00% p.a. respectively.
(i.e. width of 250bps).
4. Above changes are effective from 18th November 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.