Regulatory Alerts2007-01-01
CB Circular 06/2007 Reduction in Statutory Reserve Ratios
The Bank of Zambia has reduced the minimum statutory reserve ratios for commercial banks' Kwacha and foreign currency deposit liabilities from 14.0 percent to 8.0 percent, effective October 1, 2007. This adjustment shifts monetary policy tools toward market-based instruments and aims to lower lending rates by reducing the cost of loanable funds, thereby fostering economic growth. Commercial banks must submit their Weekly Return on Selected Assets and Liabilities by September 26, 2007, as this directive supersedes the October 2003 circular.
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