RegAlert2001-01-12
Added · Updated
Bank of Zambia Circular 04/2001: Statutory Reserve Ratio
The Bank of Zambia has increased the minimum statutory reserve ratio for commercial banks by four percentage points to 15 percent, a requirement that also applies to foreign currency deposits. Effective January 22, 2001, following a standard ten-day transition period, this adjustment aims to counter ongoing macroeconomic instability driven by rapid money supply growth and Kwacha depreciation. Future modifications to reserve requirements will remain contingent upon prevailing macroeconomic stability conditions.
BOZ published 1 document in the last 30 days — get each new one by email the day it lands.
Tel. 228888 / 228903 - 20
BANK OF ZAMBIA
P.O. Box 30080,
LUSAKA 10101
12 January 2001
CB Circular No. 04/2001
To: All Commercial Banks
Dear Sirs/Madam
STATUTORY RESERVE RATIO
Kindly refer to circular No. SCH/CB/10/2000 dated 11th December 2000.
Commercial banks are hereby advised that the minimum statutory reserve ratio has been revised upwards by 4 percentage points to 15%. As before, this adjustment also applies to the foreign currency deposits.
In keeping with the standard ten days transition period, the new statutory reserve ratio of 15% will become effective on Monday, January 22, 2001.
This adjustment has been necessitated by the need for the Bank of Zambia to further address the continued instability in the macroeconomic environment, particularly with respect to growth in money supply and rapid depreciation of the Kwacha.
As usual, further adjustments to the reserve ratio requirements will depend on the situation regarding macroeconomic stability.
Yours faithfully
Dr. Abraham Mwenda
DEPUTY GOVERNOR - OPERATIONS
Read the rest free
Lineage: Amended
Timeline
Amended 2 times · last 2001-06-14
- 2001-06-14
BOZBank of Zambia Circular 19/2001: Statutory Reserve Ratioamends
- 2001-03-26
Similar documents from other regulators
CBLCircular No. 11/2025 Regarding Amendments to Capital Requirements for BanksLibya · 2025-04-08
BOTRevised Statutory Minimum Reserves CircularTanzania · 2015-05-04
CBECircular dated October 3, 2017 regarding increasing the reserve ratio from 10% to 14%Egypt · 2017-10-04
BIBank Indonesia Regulation No. 13/10/PBI/2011 Amending Statutory Reserve Requirements for Commercial BanksIndonesia · 2011-02-09
Source: Bank of Zambia — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from BOZ
BOZ published 1 document in the last 30 days. We email you each new one the day it's published.