8. Contributor Banks Standards for Submission and Data Keeping
No: 430418800000
Date(g): 13/12/2021 | Date(h): 9/5/1443
Status: In-Force
Banks expected to:
■
Submit SAIBOR/ SAIBID will reflect the true price of unsecured wholesale liquidity in the KSA Market.3
■
Maintain records and evidence to substantiate the rates submitted to the benchmark administrator.
■
In case of significant perceived credit deterioration of a SAIBOR and SAIBID contributing bank, Saudi Central Bank and the benchmark administrator will review the eligibility of the bank concerned.
3 Wholesale liquidity is defined as unsecured SAR funding from all sources for the banks with maturities of less than one year excluding retail deposits less than SAR 10million and equity.
