CBSL denies rumors of pledging USD 4.5 billion worth of US Treasury Securities
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Sri Lanka, July 24 -- Rumor being spread that Central Bank is pledging USD 4.5 billion worth of US Treasury Securities to obtain credit facility of USD 1 billion is completely false.
CBSL has issued the following notice in this regard
The Central Bank of Sri Lanka (CBSL) has recently entered into an agreement with the Federal Reserve Bank, New York (FED) as a temporary source of US dollar liquidity to be used when required. The facility, in technical jargon, is an overnight Repurchase (Repo) facility available for "Foreign and International Monetary Authorities" (FIMA). Many central banks in the world have resorted to this facility to meet their short-term US dollar liquidity requirements. This facility enables a Central Bank to sec...
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