Central Bank of UAE opens first ever discount window
The Central Bank of the United Arab Emirates (CBUAE) will open its first ever discount window on Tuesday, offering 49 banks overnight liquidity against a wide range of collateral, including government treasuries and Islamic sukuks.
The central bank announced the introduction of the new Interim Marginal Lending Facility (IMLF) in a letter circulated to banks on April 3 and later published on the CBUAE website.
It said banks would be able to access funds from the central bank on an overnight basis
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on FMI
ECB hails launch of new wholesale settlement system
Eurosystem’s new RTGS system and liquidity management tool went live on March 20
FSB sets ‘priority actions’ for global payments reform
Broad study of interoperability and alignment has been narrowed down to specific actions
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
Lawmakers join pushback over SEC dealer rule
Bipartisan letter to Treasury says proposal would damage market liquidity
Cash demand solid despite digitalisation, CPMI finds
Latest ‘red book’ statistics show rapid growth in cashless payments, but demand for cash still resilient
CPMI and Iosco raise ‘serious’ concern over cyber security flaw
Global bodies say several FMIs have vulnerabilities in their cyber security
RBA to review payment system after outage
Central bank apologises for October incident that saw 500,000 payments delayed
BoE paper finds U-shaped collateral impact from central clearing
Centrally clearing all derivatives trades does not necessarily free up the most collateral