EMERGENCY LIQUIDITY ASSISTANCE DIRECTIVE NO.NBE /ELA/001/2024
About the policy
The Emergency Liquidity Assistance Directive No NBE/ELA/001/2024 by the National Bank of Ethiopia provides temporary funding to solvent banks facing unexpected liquidity issues. It outlines eligibility, application steps, collateral requirements, and repayment terms. The assistance is short-term (up to six months, extendable once), with an interest rate above the overnight lending rate. Enhanced monitoring applies, and confidentiality is maintained unless public interest requires disclosure.
About the author
Over the course of past eight decades—which have seen several changes in government, ten central bank Governors, and multiple forms of currency notes and coins—the NBE has been entrusted with carrying out a significant set of responsibilities: administering the nation’s monetary policy, providing its bank notes and coins, acting as a banker for the government, supervising the banking sector, managing the exchange rate as well as foreign exchange reserves, and undertaking economic research.
