Following a two-day meeting of the Monetary Policy Committee (MPC) in Abuja, CBN Governor, Mallam Sanusi Lamido Sanusi, said the committee has also unanimously decided to keep the Cash Reserve Requirement (CRR) as well as the Net Open Position (NOP) unchanged at 12.
What does NOP stand for?
NOP stands for Net Open Position
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of NOP
We have 79 other meanings of NOP in our Acronym Attic
- Natural Organic Products (USDA classification)
- Nature, Origin, Purpose
- Naval Oceanography Program
- Naval Officer Procurement (US Navy)
- Naval Operations
- Naval Ordnance Plant (US Navy)
- Navigation Operating Procedure
- Navy Objectives Plan
- Nearly Office Puppy
- Neighborhood Oriented Policing
- Net Operating Profits
- Net Orders Processed
- Network of Power (gaming)
- Network Operations Plan (European Organisation for the Safety of Air Navigation)
- Network Output Processor
- New Orleans Paddlewheels (New Orleans, LA)
- No Operation (computer processor instruction)
- Nobody On Patrol
- Non-Owner Participant (Alliance Contracting)
- Non-WIS (WFP Information System) Payment
Samples in periodicals archive:
ECAP brought following issues in the notice of the Minister for Interior whereon decisions were taken on the spot: Net Open Position (NOP) of Foreign Exchange of Commercial Banks is not being used judiciously that is resulted in fall of value of Pakistani Rupee due to speculative and forward buying of foreign exchange by importers in consultation with their respective Banks.
Moreover, it has sharply reduced commercial banks' allowable forex net open position (from 5% and previously 10%) to 1% of shareholders' funds.
AEH's physical hedges and few net open positions help mitigate these risks.
The RBI had placed limits on the net open positions that banks could hold overnight as part of measures to restrict any 'speculative behaviour,' the report said.
MarginTrac will provide OCBC with P&L calculations, management of client collateral, calculation of margin positions and margin calls, and monitoring of counterparty net open position limits.
These operations have a higher level of business risk than the company's regulated gas distribution and pipeline operations, albeit AEM manages its price risk through physical hedges and takes few net open positions.
The CBN has also begun a regime of liberalised foreign exchange market, removing all restrictions imposed recently on foreign exchange transactions and therefore increased the net open position limit for banks to five per cent of their capital base.