Prudential Standards No. 5 on Open Foreign Currency Open Positions for the Commercial Banks licensed by the Central Bank of Solomon Islands.
The Central Bank of Solomon Islands (CBSI) is pleased to announce the publication of Prudential Standard No. 5 on Open Foreign Currency Open Positions (PS 5) for the Commercial Banks licensed by the Central Bank of Solomon Islands (CBSI). This is a new Prudential Standard which will replace Prudential Guideline No. 3 on Foreign Currency Open Positions from 1st January 2025.
PS 5 aims to promote maximum availability of foreign exchange at competitive rates and it will allow banks to conduct business in a profitable yet prudent manner. Additionally, it will ensure that foreign currency positions are maintained within prudent limits to avoid excessive risk of loss to a bank’s capital as a result of fluctuations in foreign currency prices.
PS 5 will come into effect on January 1, 2025. The full standard is available on the CBSI website.
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For more information, contact the Central Bank of Solomon Islands (CBSI) on 21791 or Email: info@cbsi.com.sb | Website: www.cbsi.com.sb
About the Central Bank of Solomon Islands
The Central Bank of Solomon Islands (CBSI) is the premier financial institution in the country and is at the center of the banking and financial system, performing a number of essential functions including formulation and implementation of the country’s monetary policies. CBSI is the only authority in the country that exercises discretionary control over the country’s entire monetary system.
