Regulatory Alerts2014-01-01
Bank of Zambia Circular on Increase in Statutory Reserve Ratios
The Bank of Zambia has increased the minimum statutory reserve ratio for commercial banks from 8 percent to 14.0 percent on both kwacha and foreign currency deposit liabilities, effective March 10, 2014. This 6 percentage point adjustment aims to curb excess money market liquidity and mitigate inflationary pressures, with compliance calculated against the weekly asset and liability returns as of March 5, 2014. The central bank will continue monitoring macroeconomic developments and remains prepared to implement additional measures as necessary.
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