The State Bank of Pakistan has made some changes in its BPD Circular No 14 dated April 7, 2005 on the Prudential Regulations for Corporate/ Commercial Banking in vestment in COIs /Inter-Bank placements with NBFCs.
An SBP Circular on Tuesday said that it has been decided to replace Para 2(d) of Regulation R-4 'Limit on Exposure Against Unsecured Financing Facilities' in Prudential Regulations For Corporate /Commercial Banking as under:
(d) "Investment in COIs/Inter Bank placements NBFCs, provided the investee NBFC is rated 'A+', 'A' or 'A' for long-term rating at least 'A2' for short term rating or equivalent by a credit rating agency on the approved panel of the State Bank of Pakistan or standard & Poors, Moody's and Fitch-ibca".
All other instructions on the subject remain unchanged.