State Bank of Pakistan (SBP) has asked banks/DFIs to submit the data relating to financing against shares of banks on half early basis. According to Circular Letter No 02 of 2015, issued on June 16, 2015, SBP is seeking information from banks and DFIs on financing against shares of banks and it has directed presidents/chief executives of all banks/ DFIs that the desired information should reach OSED of State Bank of Pakistan within 14 working days of the close of the half year effective from June 30.
The banks/ DFIs should report the Information on Financing against Shares of Banks through Data Acquisition Portal (DAP). A sample of DFS File has been uploaded which can be accessed under DAP Knowledge Centre. Banks/ DFIs are also advised to ensure timely submission of data as the late/non-submission will attract punitive action under the relevant provisions of the Banking Companies Ordinance, 1962.
SBP has also sent a format for reporting related to financing against shares of banks. As per format all banks and DFIs are required to provide information including name of borrower, nature of facility, sanction date, outstanding amount, total paid up shares, market value as of close of half year, no. of shares pledged, share owned by (name of shareholder) and value of other collaterals. In addition, banks and DFIs have been asked to confirm whether the shares of bank pledged as security is primary security or not.
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