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[December 27, 2004 - 10.00 GMT] While deeply regretting the extensive damage caused to life and property in the country following the tidal wave that devastated the coastal areas on December 26, 2004, the Central Bank of Sri Lanka has taken measured to ensure the smooth functioning of the financial markets and the payments and settlements systems. Accordingly, the Central Bank will provide adequate liquidity and other services to the financial markets through extended working hours. The Central Bank has also set p a special help desk to address any urgent issues of banking institutions. Measures have also been taken to meet urgent currency demands of commercial banks, if any. At a meeting with commercial banks on December 27, 2004, it was agreed to keep open LankaClear and the Real Time Gross Settlement (RTS) System for extended hours to facilitate any delayed payments due to communication problems. Commercial banks also agreed to facilitate financial transactions of affected customers. In addition, commercial banks have started rehabilitating their affected branches. Meanwhile,
the Central Bank has initiated an assessment of the impact of the disaster
on the economy both in the short and the long run.
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