Important announcement of UAE

Abu Dhabi: The Central Bank has announced the introduction of new terms and conditions for access to its reserves.

According to the details, the central bank will introduce new general terms and conditions for its standing credit and liquidity insurance facilities, under which licensed financial institutions will be able to access the bank’s reserves.

The bank says the new terms and conditions will take effect on March 1, 2022, setting out discretionary options for activating these services, and guidelines for collateral management.

If an eligible party needs funds for business, they can access any of the permanent credit facilities to acquire bank deposits overnight at their discretion. Will use

In addition, the central bank may activate the emergency liquidity insurance facility in case of any real or potential problem of extraordinary nature, where the eligible party may have access to the bank’s reserves on extended terms.

Central Bank Governor Khalid Mohammad Balama said the restructuring of the guarantor spectrum would ensure more effective intervention by the central bank, to provide liquidity to eligible parties to deal with local market issues in times of tension. ۔

He said that new features like standing credit and liquidity insurance facilities would also help the bank in dealing with all the market conditions.

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