Regulatory Alerts2001-01-01
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.
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