VOL. XLIV

No. 13

26-March-2001

LEBANON

CBL Moves To Ease Pressure On Lebanese Currency

The Central Bank of Lebanon (CBL) on 15 March issued a new policy directive requiring banks and financial institutions to reduce their long or short trading positions in foreign exchange at the end of each trading session to amaximum of 1% of the value of their total shareholder equity. A ceiling of 5% had been in effect since early 1997, prior to this new ruling. During any one trading session banks are...