The Lebanese Central Bank issued on July 5, 2023 intermediate decision 13563 under basic circular 674 directed to banks concerning the gradual payment of foreign currency deposits and which amends basic decision number 13335. The circular states that eligible account holders can withdraw $400 in fresh funds per month (up to $4,800 per year), from the amounts that were transferred to the special subaccounts at banks before July 1, 2023, whilst also allowing those who transferred to the special subaccounts at banks after June 30, 2023, to withdraw $300 in fresh funds per month (capped at $3,600 per year). It is worth noting, in this context, that eligible account holders were also previously able to utilize the LBP counter value of $400 per month at the rate of LBP 15,000 per dollar. The circular allowed banks to use their 3% external liquidity to satisfy the provisions stated above, yet required banks to reconstitute the 3% threshold by end of year 2024. The circular came into effect starting July 1, 2023, with a renewable term of 1 year.