July 10, 2019/CBN
With reference to the circular to all Banks and Discounts Houses, Re: Guidelines on Accessing the CBN Standing Deposit Facility, Ref: FMD/DIR/GEN/CIR/05/020 and dated November 06, 2014, after further review:
- The remunerable daily placements by banks at the SDF shall not exceed N2billion.
- The SDF deposit of N2billion shall be remunerated at the interest rate prescribed by the Monetary Policy Committee from time to time.
- Any deposit by a bank in excess of N2billion shall not be remunerated.
The provision of this circular take effect from Thursday July 11, 2019.