8. Contributor Banks Standards for Submission and Data Keeping
| No: 43041880 | Date(g): 13/12/2021 | Date(h): 9/5/1443 |
Effective from Dec 26 2021 - Dec 25 2021
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| 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.