Regulatory Alerts2013-01-01
Bank of Zambia Circular 02/2013: Increase in Statutory Reserve Ratios
The Bank of Zambia has directed all commercial banks to increase the minimum statutory reserve ratio on kwacha and foreign currency public deposits from 5.0 percent to 8.0 percent. This 3.0 percentage point adjustment takes effect on January 28, 2013, with compliance reflected in the weekly asset and liability returns starting January 23, 2013. The measure aims to curb excess market liquidity and control inflation, while the central bank reserves the right to implement additional macroeconomic interventions as needed.
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