CBN Circulars & Publications | |
CBN Circulars & Publications | |
4731 VIEWS | |
![]() |
Thursday, April 04
2019 06:38 AM / CBN
Introduction
The conduct of monetary policy by the Central Bank of Nigeria (CBN) in 2018/2019 will continue to be anchored on the MediumTerm Framework. The need for such framework is based on the fact that monetary policy impacts its ultimate goal with a lag. A medium term framework would thus enable the Bank anchor expections and therefore, avoid over-reaction to temporary shocks and time inconsistency problems associated with frequent changes in policies.
The 2018/2019 Monetary, Credit, Foreign Trade and Exchange Policy Guidelines covers the period January 2018 to December 2019 and is designed to ensure both price stability and financial stability. This circular outlines the monetary, credit, foreign trade and exchange policy guidelines applicable to banks and other financial institutions under the supervision of the CBN in 2018/2019.
The guidelines may be fine-tuned by the Bank to take account of new developments in the domestic and global economies in the period without prior notice. Such a m end m en ts s hal l be co m m u n icated to t he relevan t institutions/stakeholders in supplementary circulars. This document is organized into five Sections.
Following this introduction, Section Two reviews developments in the global and domestic economy in 2017 as a background to the policy measures in 2018/2019. Section Three outlines the monetary and credit policy measures and guidelines to be implemented in the 2018/2019 Fiscal years.
In Section Four, the applicable foreign trade and
exchange policy measures are presented, while Section Five focuses on consumer
protection issues. The annexure contains prudential guidelines, relevant
reporting formats and referenced circulars.
Related News
1. EBA Publishes
Updated Impact Of The Final Basel III Reforms On EU Banks Capital
2. Jurisdictions
Move Forward Towards Implementing Standards for Payment, Clearing and
Settlement
3. Danièle Nouy:
Getting Tough with Bankers
4. Statement On The
Implementation Phases Of Margin Requirements For Non-Centrally Cleared
Derivatives
5. Additional Data
Fields For Industry Customer Account Database Submission To NIBSS Plc
6. Anti-Money
Laundering And Combating The Financing Of Terrorism Policy and Procedure Manual
7. Financial
Stability Report and Stress Test Results (UK) - November 2018
8. Banks Accessed
N956bn in Q3’18 Through CBN’s Standing Facilities Window to Square Up Their
Positions
9. Beginning Stress
Testing’s New Chapter - An Intl’ Perspective On The Future Of Bank Stress
Testing
10. No Bank Was
Referenced By CBN as NOT being Compliant with 30% Minimum Regulatory Liquidity
Ratio
11. CBN Reschedules
November 2018 MPC Meeting to 21st and 22nd
12. The Central Bank
And The Regulators Of Fintech
13. Sort Code and
MICR Reject Flag - CBN Issues Circular On The Revised NCS And NICPAS
14. Terms Of
Reference For The Competition On The ECOWAS Single Currency Name And Logo
15. Exposure Draft
On The Regulation For the Operation of Indirect Participants in the Payments
System
16. Exposure Draft
For The Revised Standards on NUBAN Scheme for Banks and OFIs
17. Federal Reserve
Board Finalizes New Supervisory Rating System For Large Financial Institutions
18. CBN Releases
Code of Corporate Governance for Development Finance Institutions in Nigeria
19. CBN Releases
Code of Corporate Governance for Microfinance Banks in Nigeria
20. CBN Releases
Code of Corporate Governance For Bureaux De Change In Nigeria
21. The Approved
List of 34 CBN-Licensed Primary Mortgage Banks In Nigeria As At Sept 30, 2018