Regulatory Alerts2011-07-28
Added · Updated
Banking Circular No 6 of 2011 - Guidelines on the use of CBK Discount
The Monetary Policy Committee decided to maintain the CBR at 6.25% and change the Cash Reserve Ratio requirement for commercial banks. Banks will now be required to maintain a weekly average of 4.75% instead of daily position, allowing them to deviate from the 4.75% on any given day as long as the overall five-day average remains at 4.75%. This change will take effect immediately.
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