10348/BC/371
No: 10348/BC/371 | Date(g): 22/3/1989 | Date(h): 15/8/1409 |
Effective from 1989-03-22 - Mar 21 1989
To view other versions open the versions tab on the right
Reference our circular No. BC/120 dated 29-5-1404, regarding bank liquid reserves and components under article (7) of the Banking Control Law,
We wish to advise you that you can now list investments in local government bonds as a component of liquid assets for the purpose of calculating your liquid reserves, provided for in item (2) of article (7) which is presently fixed at 20% of deposits. Please take into consideration that the figure appearing in item 19-1 is the net government bonds kept by the bank for its own account, excluding bonds sold to bank clients or redeemed by SAMA. You are required to provide us with the attached analytical statement as one of the attachments of your financial position.
Please be informed, act accordingly and acknowledge receipt.