Circulars/Notifications - Exchange Policy Department  
 Circular Letter No. 15 /EPP.16(168)Rtn-2003
July 24, 2003 

The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange.

Dear Sirs,

Monthly Foreign Exchange Returns-
Clarification On Reporting For New FCAs (FE-25)

With the adoption of BPM-5, vide FE Circular No. 8 dated the 19th April 2003, in addition to other requirements; a mechanism has been developed for reporting of new Foreign Currency Accounts (FE 25) by classifying transactions of these accounts in Code Lists No. 5 & 7. For further clarification, the same are reproduced below:

O-FINANCIAL ACCOUNTS
Code No. Description

I) Short Term Capital (RECEIPTS)
9524 Borrowings by banks within Pakistan – FCA

9525 Withdrawals in Equivalent Pak Rupees from FCA-residents-individuals

9526 Withdrawals in Equivalent Pak Rupees from
FCA-residents-enterprises-Direct investment.

9527 Withdrawals in Equivalent Pak Rupees from
FCA-residents-enterprises-Portfolio investment.

9528 Withdrawals in Equivalent Pak Rupees from
FCA-residents-enterprises-other purpose

9529 Withdrawals in Equivalent Pak Rupees from FCA-residents-General
government

9531 Withdrawals in Equivalent Pak Rupees from FCA-non-residents

9532 Foreign currency accounts of residents- individuals

9533 Foreign currency accounts of residents- General government

9534 Foreign currency accounts of residents-enterprises

9535 Foreign currency accounts of non-residents

9536 Foreign currency accounts – NBFI’s

SWAPS
9537 Short-term SWAPS- inter-bank

9538 Short-term SWAPS-abroad

Placements
9539 Withdrawal of Placements made within Pakistan

9541 Withdrawal of Placements made outside Pakistan

9542 Withdrawal from the balance of CRR/SCRR- SBP

Trade Finance
9543 Replenishment of FCA from inter bank for settlement of FX loan
(Pre-shipment) to exporters

9544 Replenishment of FCA from inter bank for settlement of FX loan
(Post-shipment) to exporters

9545 Receipts against FX loan to importers

III) Other long-term Capital
9642 Borrowings by banks within Pakistan-FCA

O-FINANCIAL ACCOUNT
Code No. Description

I) Short-term Capital (PAYMENTS)

1522 Foreign currency accounts of residents- individuals

1523 Foreign currency accounts of residents- General government

1524 Foreign currency accounts of residents-enterprises

1525 Foreign currency accounts of non-residents

1526 Foreign currency accounts – NBFI’s

SWAPS
1527 Short-term SWAPS

1528 Repayment by banks - abroad

1529 Repayment by banks within Pakistan

1531 Repayment by others

Placements
1532 Placements within Pakistan

1533 Placements abroad

1534 Deposits with SBP for CRR/SCRR

Trade Finance
1535 Sale to SBP of FX loans (Pre-shipment) to exporters

1536 Sale to SBP of FX loans (Post-shipment) to exporters

III) Other Long-term capital
1642 Repayment by banks within Pakistan- (FCA)

SWAPS
1643 Long-term SWAPS

Placements
1644 Placements within Pakistan-(FCA)

1645 Placements made outside Pakistan

All Authorised Dealers are therefore required to report the transactions under new Foreign Currency Accounts Scheme on Schedule J/O-3 (Invisible & Capital Receipts) and on Schedule E3/P-3, E4/P-4 (Invisible & Capital Payments) with immediate effect.

Yours faithfully,
(SYED SAMAR HASNAIN)
Joint Director
       
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