Examples of CBSL in a sentence
Under this agreement the CBSL is entitled for a swap facility amounting to CNY 10 billion (approximately US$ 1.5 billion).
RED is currently in the process of developing a comprehensive resolution framework to include resolution mechanisms for the entities supervised by the CBSL with clear legal empowerments.
This provided short- term financing to the CBSL to meet the country’s balance of payment requirements.
In the meantime, the CBSL will design a resolution plan for each licensed bank having systemic importance or impact.
According to the Banking (Special Provisions) Act to be enacted, licensed banks are required to have recovery plans as a part of their risk management process, which provides for measures to be taken by the licensed banks in the event of a deterioration of its financial position prior to the CBSL taking resolution actions on such licensed banks.
In July 2020, the Central Bank of Sri Lanka (CBSL) and the Reserve Bank of India (RBI) entered intoa currency swap agreement under the Framework on Currency Swap Arrangement for South Asian Association for Regional Cooperation (SAARC) countries for 2019 - 2022.
The intention of the CBSL in entering into this Swap agreement was to be able to maintain a sufficient short-term foreign exchange liquidity buffer while preserving the foreign currency reserve position of the country intact.
Relevance for Sri LankaThe Central Bank of Sri Lanka (CBSL) is the regulatory authority of Sri Lanka’s banking and non-banking financial institutions.
In March 2021, the CBSL and the People’s Bank of China (PBoC) entered into a bilateral currency swap agreement with a view to promoting bilateral trade and direct investment for economic development of the two countries, and to be used for other purposes agreed upon by both parties.
Subsequently, the CBSL made the second withdrawal of USD 400 mn in January 2022 for a period of 3 months with two potential roll-overs fell due in July 2022.