FINANCIAL INSTITUTIONS (FOREIGN CURRENCY EXPOSURE LIMITS) (AMENDMENT) REGULATIONS 2002

Pursuant to section 71 (2) (i) of the Financial Institutions Act 19991, the


CENTRAL BANK OF LESOTHO

being the Commissioner of Financial Institutions makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Financial Institutions (Foreign Currency Exposure Limits) (Amendment) Regulations 2002 and shall come into operation on the date of publication in the Gazette.

Foreign Currency Exposure Limits

2. Regulation 5(3) of the Financial Institutions (Foreign Currency Exposure Limits) Regulations 20002 is amended by deleting paragraphs (a) and (b) and substituting the following:

“(a) 15% of the total qualifying capital for any single foreign currency exposure; and

(b) 25% of the total qualifying capital for overall foreign exchange exposure.”




ESSELEN MOTLATSI MATEKANE
GOVERNOR, CENTRAL BANK OF LESOTHO