Region

Jurisdiction

Regulator

2015-02-13 | BSD/DIR/GEN/LAB/08/009

Re: Cash Reserve Requirement Maintenance Calendar for 2015

The letter informs banks of changes to the cash reserve requirement (CRR) maintenance calendar for 2015. The CRR will now be computed fortnightly and take effect every Thursday, starting February 12, 2015, and will be calculated based on the incremental average deposits over the previous fortnight period. Banks are advised to take note of these changes.

Nigeria

Central Bank of Nigeria

09-462-36401 BSD/DIR/GEN/LAB/08/009 February 11, 2015 LETTER TO ALL BANKS RE: CASH RESERVE REQUIREMENT MAINTENANCE CALENDAR FOR 2015 Further to our earlier letter referenced BSD/DIR/GEN/LAB/08/001 and dated 5th January 2015 on the above subject, all banks are invited to note the following changes to the cash reserve regime:

Henceforth, cash reserve requirement (CRR) would be computed on a fortnightly basis and effected every Thursday, commencing on 12th February 2015.
All banks should note that the CRR would be computed based on the incremental average deposits over the prior fortnight period.

Please be guided accordingly. 'TOKUNBO MARTINS (MRS.) DIRECTOR, BANKING SUPERVISION