All posts tagged "CBSL"
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829Asia-PacificBanks ‘Must’ Pass on Reduce Rates to Borrowers: CBSL
Sri Lanka's central bank has cut interest rates again and is ramping up pressure for banks to reduce the rates they charge borrowers, particularly small businesses.
July 10, 2020 -
1.1KAML / KYC
Sri Lanka Shortlists Three Firms to Build Shared KYC Facility
The three shortlisted firms, including one from Sweden, will begin work on a proof-of-concept, which is expected to be completed in six to nine months.
July 7, 2020 -
416Asia-Pacific
Sri Lanka: CBSL to Absorb Credit Risk on Business Loans
The CBSL will provide credit guarantees ranging from 80% for smaller loans to 50% for larger loans issued to businesses affected by Covid-19.
July 2, 2020 -
1.8KAML / KYC
Sri Lanka’s ‘Special Deposit Account’, a Recipe for Disaster
A CBSL scheme announced in April to drive inward remittances and investment may risk Sri Lanka falling back into the FATF's grey list, says Duruthu Chandrasekera.
June 22, 2020 -
740Asia-Pacific
Sri Lanka Cuts Statutory Reserve Ratio, Expands Lending Facility
The CBSL has cut the statutory reserve ratio by 200 basis points, releasing $617mn in liquidity in the banking system. The size of its re-finance facility has also been tripled.
June 17, 2020 -
588Asia-PacificSri Lanka to Triple Refinance Facility Limit for Banks
The tripling of the limit was proposed to the Cabinet following complaints from various parties that they had not received relief from their banks.
June 8, 2020 -
3.6KAsia-Pacific
Foreign Investors Flee Sri Lankan Bank Stocks Amid Dividend Ban
Exacerbated by a seven-week stock market shut down, foreign investors sold large quantities of Sri Lankan bank stocks following a ban on bank dividends this month.
May 26, 2020 -
834Asia-Pacific
Sri Lanka Central Bank Bans Dividends, Share Buybacks at Banks
Foreign banks are prohibited from repatriating profits. LCR and NSFR requirements have been reduced to 90%. Banks are told to refrain from non-essential expenditures.
May 15, 2020 -
345Asia-Pacific
CBSL Announces New Loan Facility to Aid Businesses
Loans granted to businesses by participating FIs under the facility will be limited to two months working capital, with 2 years repayment terms and a 4% p.a. interest rate.
April 21, 2020 -
425Asia-Pacific
Sri Lankan Brokers Prohibited from Charging Interest on Margin Loans
The central bank has also suspended overseas investment and outward remittances by Sri Lankan residents, and cut interest rates for the second time in three weeks.
April 8, 2020
