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STATE BANK OF PAKISTAN BANKING SUPERVISION DEPARTMENT CENTRAL DIRECTORATE KARACHI

BSD Circular No. 39
20th October , 2001

All Commercial Banks
Dear Sirs,

Financing Facility by State Bank Reduction in REPO Rates
Reduction in REPO Rates from 12% to 10%

Please refer to BSD Circular No.29 dated the 16^th August, 2001 through which the above rate has been reduced from 13% to 12% on annual basis.

2. It has been decided to further reduce the minimum rate of return to be paid by recipients of financing facilities from State Bank for meeting temporary liquidity shortages and SBP 3-day Repo facility. Accordingly effective from 22^nd October, 2001 the minimum rate of return to be paid by recipients of financing facilities from State Bank for meeting temporary liquidity shortages and SBP 3-day Repo facility against Government of Pakistan Market Treasury Bills and Federal / Pakistan Investment Bonds has been reduced from 12% to 10% on annual basis.

3. Other relevant instructions on the subject shall, however, remain unchanged.

Please acknowledge receipt.

Yours faithfully,

( JAMEEL AHMAD )
SENIOR JOINT DIRECTOR

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