CBN Direct DMBs to Pledge Collateral of N1bn Worth of Government Securities for OTC Trade Settlement

Friday, June 01, 2018 / 05:44 PM / CBN

The Central Bank of Nigeria (CBN) in an effort to enhance efficiency in trading and post-trade activities and build confidence in the financial markets, hereby directs all Deposit Money Banks (DMBs) to pledge collateral of N1billion (One Billion Naira) worth of Government Securities for OTC trade settlement. 

The pledge requirement is mandatory for all DMBs that wish to participate in OTC Trade Settlement. Lack of provision of the pledge or failure to top-up a pledge when required will result in exclusion from the market. 

This circular takes effect from June 1, 2018. 

Please ensure compliance.

Related News

1.       Monetary, Credit, Foreign Trade and Exchange Policy Guidelines for Fiscal Years 2018-2019

2.      Regulatory Framework for the Use of USSD in the Nigerian Financial System

3.      CBN Issues Anti-Money Laundering and Combating the Financing of Terrorism Regulations, 2018

4.      CBN Publishes Financial Markets Dept H1 2017 Activity Report

5.      Registration

6.      CBN Exposure Draft - Licensing of Private Asset Management Company

7.      CBN Introduces Non-Oil Export Stimulation Facility (NESF)

8.     CBN Announces Regulation For Bill Payments In Nigeria

9.      CBN Revised Regulation for Direct Debit Scheme in Nigeria

10.  Accomplishments Of The Last 5 Years – Financial Conduct Authority

11.   CBN Directs DMBs to Establish Consumer Complaint Help Desk