Regulatory Alerts2019-01-01
CB Circular No. 14/2019 on Compliance and Increase in Statutory Reserve Ratios
The Bank of Zambia has increased the minimum statutory reserve ratio on local and foreign currency deposits from 5 percent to 9 percent, effective December 23, 2019. Commercial banks must now calculate and comply with these reserve requirements on a daily basis using the December 4, 2019 Weekly Return of Selected Assets and Liabilities as the calculation base. These measures aim to restore market stability and mitigate the adverse impact of recent exchange rate fluctuations on inflation.
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