Entry Instance

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{
    "id": 463367,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/463367/?format=api",
    "text_counter": 249,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "THAT, the Central Bank of Kenya Act be amended by deleting section 36 and substituting therefor with the following new section: (1) The Bank may grant loans or advances for fixed periods not exceeding six months to specified banks and specified microfinance banks which pledge treasury bills or other Government securities specified by the Bank. (2) Except as provided in this section the Bank shall not extend credit directly or indirectly to specified banks or specified microfinance banks. (3) The Bank may determine the general terms and conditions under which it extends credit to specified banks and specified microfinance banks, and in particular, the Bank shall determine and announce the rates of interest or return it shall charge for granting loans or advances to specified banks and specified microfinance banks in accordance with this section and may determine different rates of interest or return for different classes of transactions or maturities. (4) The Central Bank shall publish the lowest rate of interest it charges on loans to banks and microfinance banks and that rate shall be known as the central bank rate."
}