Regulatory Alerts2015-05-27
10 Establishment of mandatory reserves on deposits of non-financial public entities
The Bank of the Republic of Haiti issued Circular Letter No. 10 to mandate a mandatory reserve coefficient of 80% on deposits held by non-financial public entities, effective June 15, 2015. This coefficient is scheduled to increase to 100% starting July 15, 2015, with specific exemptions for pension funds of public enterprises and autonomous bodies. Non-compliance with this directive results in a penalty equivalent to half the balance of each undeclared account held at the Central Bank.
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