Regulatory Alerts2019-02-06
Circular Letter on Mandatory Reserves and Their Method of Constitution
The Governor of the Bank of the Republic of Haiti issued Circular Letter BRH/DCC/CIRC # 01-19 effective February 4, 2019, to modify mandatory reserve coefficients and reserve constitution rates for commercial and savings banks. The new regulations set reserve coefficients at 45% for Gourdes liabilities and 51% for foreign currency liabilities for commercial banks and non-bank subsidiaries, while savings and housing banks face coefficients of 33.5% and 39.50% respectively. Additionally, the constitution rate for foreign currency liabilities is established at 87.5% in foreign currency and 12.5% in Gourdes.
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