Chandra Demands For Information On Treasury Bond Issuance



Exercising his ‘Right to Information,’ good governance activist and former Chairman of the Ceylon Chamber of Commerce, Chandra Jayaratne has demanded the Secretary of the Central Bank’s Monetary Board to furnish him within 14 days all information pertaining to the recent Treasury Bond issuance from the Central Bank.

In a letter addressed to the Secretary of the Monetary Board of Sri Lanka on April 19, Jayaratne said that in recognition of the provisions of Article 14 A of Chapter III (Fundamental Rights) of the Constitution of the Sri Lanka, dealing with the right of access to information and also in recognition of the Right to Information Bill tabled in the Parliament, he was exercising his fundamental right to receive the information on several matters from the Monetary Board of Sri Lanka, being the body responsible for making all policy decisions related to the management, operation and administration of the Central Bank of Sri Lanka.

“Kindly submit to me in English, within 14 days from the receipt of this letter, information in respect of Government Treasury Bond Issues,” the letter which was also copied to Central Bank Governor Arjuna Mahendran and members of the Monetary Board said.

The full text of the letter is below;

19th April 2016. By Registered Post

The Secretary,
Monetary Board of Sri Lanka,
Central Bank of Sri Lanka,
Janadhipathi Mawatha,
Colombo 1.

Dear Sir,

Exercise of Right to Information in Terms of the Constitution of Sri Lanka and Pending Legislation on Right to Information

In recognition of the provisions of Article 14 A of Chapter III (Fundamental Rights) of the Constitution of the Sri Lanka, dealing with the right of access to information and also in recognition of the Right to Information Bill tabled in the Parliament of Sri Lanka, in which the preamble reads as “WHEREAS the Constitution guarantees the right of access to information in Article 14A thereof and there exists a need to foster a culture of transparency and accountability in public authorities by giving effect to the right of access to information and thereby promote a society in which the people of Sri Lanka would be able to more fully participate in public life through combating corruption and promoting accountability and good governance”, I hereby serve due notice on you, that I wish to exercise my fundamental right to receive the information hereinafter set out in this letter from the Monetary Board of Sri Lanka, being the body responsible for making all policy decisions related to the management, operation and administration of the Central Bank of Sri Lanka, in terms of the Monetary Law Act No 58 of 1949 as amended.

Kindly submit to me in English, within 14 days from the receipt of this letter, the following information in respect of Government Treasury Bond Issues;

Being Treasury Bond issues of maturity periods above 4 years, made on or after 1st January 2016 and up to date (ie. Including details of the treasury bond offers of 18th April 2016) and in respect of each such bond offer /issues

  • Settlement Date
  • Issue Date of Series
  • Maturity Date of Series
  • Coupon Rate
  • Loan Title
  • Maturity Period
  • ISIN
  • Series No
  • Auction No
  • Accrued Interest Rate

In respect of each of the issues detailed in 1 above, the under noted details of all bids received ;

  • Sequence No
  • Dealer
  • Amount Tendered
  • Bid Price
  • Amount Payable
  • Yield to maturity
  • Yield Net of Tax
  • Cumulative Amount Tendered
  • Cumulative Amount Payable
  • Weighted Average Price
  • Weighted Average Yield to Maturity
  • WAYRN Indicating accepted bids in full and or part and rejected bids, and
  • Names of the Chairman and Members of the Tender Committee and members of Management of the Central Bank who participated directly or indirectly in the decision making process regards the bids to accepted and rejected and quantity total value up to which bids are to be accepted

3. In respect of each of the issues detailed in 1 above, where the Tender Committee rejected all bids received reasons for rejection of all bids received in a market based auction system

Kindly submit to me in English, within 30 days from the receipt of this letter, the following additional information in respect of Government Treasury Bond Issues;

4. In respect of each of the issues listed in 1 above, where following such issue, the successful dealers to whom corresponding bonds were issued and have since made secondary market transfers of such bonds, transferring the said bond to any of the undernoted State Institutions;

  • Employees Provident Fund
  • Employees Trust Fund
  • National Savings Bank
  • State Mortgage & Investment Bank
  • Sri Lanka Insurance Corporation Ltd
  • Bank of Ceylon
  • Peoples Bank

details thereof indicating

  • the relevant date of transfer
  • Face Value of Bonds Transferred
  • Transfer Price

Your earliest response to the above request for information will be greatly appreciated

Yours Sincerely,
Chandra Jayaratne

CC. The Governor Central Bank and Members of the Monetary Board of Sri Lanka

Add comments..



Share on Google Plus

0 Comments:

Post a Comment