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050319
STATE BANK OF PAKISTAN - BANKING POLICY DEPARTMENT
BPD Circular No. 9 of 2005
March 19, 2005
The Presidents/Chief Executives,
All Banks/DFIs
Dear Sirs/Madam,
PLACEMENT OF FUNDS UNDER FE-25 DEPOSITS
PRUDENTIAL REGULATIONS FOR CORPORATE AND COMMERCIAL BANKING
Please refer to the Prudential Regulations issued vide BPD circular No 35 dated
28th October 2003.
2. It has been decided to replace Para 3 of Regulation 0-5 with the following;
“Placement of funds of FE-25 deposits with any one bank / financial institution,
whether in Pakistan or abroad, shall be subject to the following conditions;
(a) The investing bank shall comply with Prudential Regulation R-1 (Annexure-1
Para F), which mentions different weightages according to credit ratings of
financial institutions.
(b) The investing bank will not place in a single institution an amount
exceeding 25% of the total investable funds, available with the investing bank,
under the FE-25 Deposit Scheme.
The conditions above shall, however, not be applicable on placement of funds by
the bank with its own branches overseas. Furthermore, compliance with all other
relevant Prudential Regulations shall also be ensured.”
.
3. All other instructions on the subject shall, however, remain unchanged.
4. Please acknowledge receipt.
Yours faithfully,
S/d
(MUHAMMAD KAMRAN SHEHZAD)
DIRECTOR
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