Notes to the Consolidated Financial Statements - Seylan Bank

North Bound > Seylan Bank Annual Report 2011
329
Note
1. Two percentage points (2%) above the simple average of the one year weighted average Treasury Bill
Rate (after tax on interest) at the primary auctions during the month of May each year applicable for the
succeeding year until redemption with a floor of 11% p.a. and a cap of 15% p.a. payable annually.
2. Two and half percentage points (2½%) above the one year weighted average Treasury Bill Rate (after
tax on interest) as published by Central Bank of Sri Lanka, initially decided during the month of October
2006 and applicable for the ensuing year calculated from the respective dates of allotment and thereafter
determined in a similar manner based on the primary auctions during the month of October each year
applicable for the succeeding year until redemption with a floor (minimum interest rate) of 11% p.a. and
a cap (maximum interest rate) of 17% p.a.: payable annually on par value. Tenor of the debentures –
five years.
3. Two percentage points (2%) above the simple average of the one year weighted average Treasury Bill
Rate (after tax on interest) at the primary auctions during the month of March each year applicable for
the succeeding year until redemption with a floor of 14% p.a. and a cap of 19% p.a. payable annually.
4. One (1) year net Treasury Bill Rate plus 2 ½% payable annually on par value (simple average of the one
year weighted average Treasury Bill Rate during the month immediately preceding the commencement
of the respective years).
5. 3 months net Treasury Bill Rate plus 2 ½% payable quarterly on par value (simple average of the 3 months
weighted average Treasury Bill Rate during the month immediately preceding the commencement of the
respective quarters).
6. One (1) year net Treasury Bill Rate plus 2½% payable annually on par value (simple average of the
one year weighted average Treasury Bill Rate during the month preceding the commencement of the
respective years).
7. 3 months net Treasury Bill Rate plus 2½% payable quarterly on par value (simple average of the 3 months
weighted average Treasury Bill Rate during the month preceding the commencement of the respective
quarters).
8. AWPLR (Five-year floating rate) - (‘AWPLR’ means the simple average of the Average Weighted Prime
Lending Rate published by the Central Bank of Sri Lanka for the 12-week period immediately preceding
each Interest Determination Date).