Regulatory Alerts2018-04-18
Circular No. 111 on Standards for Components of Mandatory Reserves
The Bank of the Republic of Haiti issued Circular No. 111 to establish the standards for calculating mandatory reserves, defining reportable liabilities, specific exemptions for housing and sector-specific loans, and the composition of reserve assets. The regulation mandates daily and monthly reporting of liquidity and coverage through the SIF module, while specifying strict penalties for late submissions, reserve shortfalls, and data discrepancies. This circular, effective December 1, 2017, supersedes previous regulations and outlines the enforcement mechanisms for non-compliance by banking institutions.
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