Public Actions
Banque du Liban issues Circular 580 on bank exemptions from mandatory reserves
Date:
Thursday, February 25, 2021
The Lebanese Central Bank issued on February 25, 2021 Intermediate Circular No. 580 which adds article 3 bis of basic decision number 13,217 under basic circular 150 pertaining to bank exemptions from mandatory reserves. The circular stipulate that banks that receive inward transfers in foreign currencies must deposit said amounts in cash either with it or in an account free of any obligations with its correspondent banks, noting that the deposited amounts will remain subject to the provisions of basic circular 154.
مصرف لبنان
قرار وسيط رقم 13317 تعديل القرار الأساسي رقم 13217 تاريخ 2020/4/9 (اعفاءات استثنائية من توظيفات المصارف الإلزامية)
الجريدة الرسمية - العدد 9 - 2021/3/4
Sources:
Acting Bodies:
Banque du Liban (BDL)
Type:
Resolutions
Categories:
Economic measures (State budget, rent law, wages...)
Impact:
National
Status:
Approved/ Ratified
Civil Society Response:
Not applicable