If the ceiling on the open foreign exchange position of the consolidated commercial banking system for end-September is not met, the Banking Agencies will prepare plans, based in understandings reached with staff, for those banks that did not meet their individual forex ceilings for end-September.  The plans will indicate how those banks will adjust to observe their forex ceilings for end-December 2003.  The ceilings are those defined in the "Instruction for Implementation of the decree on Minimum Standards for the Foreign Currency Risk Management of Banks" issued by the Federation and RS Banking Agencies in July 2003.
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