BoG Issues Notice to Banks and Specialised Deposit-Taking Institutions

The Bank of Ghana (BoG) has issued a new notice to all Banks and Specialised Deposit-Taking Institutions in the country.

The notice with number  BOG/FMD/2024/24 related to the pricing of fixed income securities listed on the Ghana Fixed Income Market  (GFIM)

Toe ensure compliance to the directive the institutions are by law to adopt adopt the “Ghana Fixed Income Market’s (GFIM’s) end-of-day closing prices as published in the daily trading report for mark-to-market valuation of securities.” the release indicated.

It furthered that the submission deadline is set at 11:00 a.m. each day.

BoG issued notice details of the release is below. 

NOTICE TO BANKS AND SPECIALISED DEPOSIT-TAKING INSTITUTIONS (SDTIs)

PRICING OF FIXED INCOME SECURITIES LISTED ON THE

GHANA FIXED INCOME MARKET (GFIM)

All banks and Specialised Deposit-taking Institutions (SDTIs) are required to

adhere to the following:

1. ADOPTION OF GFIM END-OF-DAY PRICING

All banks and SDTIs are mandated to adopt the Ghana Fixed Income Market’s (GFIM’s) end-of-day closing prices as published in the daily trading report for mark-to-market valuation of securities.

2. SUBMISSION OF MARKET–REFLECTIVE INDICATIVE PRICES
3. Primary Dealers are required to submit market-reflective indicative

prices of government securities daily.

1. The submission deadline is set at 11:00 a.m. each day.

This Notice is effective from the date of issuance.

READ: Bank of Ghana Exchange Rates For March 13th, 2024 Out

(SGD)

SANDRA THOMPSON (MS.) 4TH APRIL 2024

THE SECRETARY