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{
    "id": 270479,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/270479/?format=api",
    "text_counter": 366,
    "type": "speech",
    "speaker_name": "Mr. Okemo",
    "speaker_title": "",
    "speaker": {
        "id": 198,
        "legal_name": "Chrysanthus Barnabas Okemo",
        "slug": "chrysanthus-okemo"
    },
    "content": "Mr. Speaker, Sir, obviously the hon. Member was not listening. That is not what I said and anybody who knows any economics would know that what he is saying does not make sense. I said that the lending rate in the discount window is the CBK rate plus the penalty. So, look at what the CBK rate was in November. It was 16.5 per cent. If you look at the rate of 16.5 per cent and look at what is being charged as the discount window rate, the difference is a penalty. That penalty means that because of the tight squeeze, the CBK was trying to instil discipline in the commercial banks to try and administer their liquidity efficiently. If you do not do so properly and you go there, then you have to pay the penalty. Look at all the rates from 2010 up to 2012---"
}