Regulatory Alerts2026-03-09
Procedures for Administration of MRR in NISS
The Bank of Namibia issued Circular BIA 1/07 to clarify procedures for loading and administering Minimum Reserve Requirements (MRR) within the Namibia Interbank Settlement System (NISS). Banking institutions must ensure new MRR amounts are loaded on Fridays when maintenance periods begin on weekends or Mondays, with NISS automatically increasing reserves for higher amounts but requiring manual transfers when reserves decrease. Institutions utilizing up to twenty-five percent of MRR for intraday settlement must manually transfer the required funds, as NISS automatically returns them to the reserve account at day-end, while scheduled validation visits replace the discontinued MRR 1 return form.
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