Circular Letter on Mandatory Reserves and Their Method of Constitution

The Governor of the Bank of the Republic of Haiti issued Circular Letter BRH/DCC/CIRC # 01-19 effective February 4, 2019, to modify mandatory reserve coefficients and reserve constitution rates for commercial and savings banks. The new regulations set reserve coefficients at 45% for Gourdes liabilities and 51% for foreign currency liabilities for commercial banks and non-bank subsidiaries, while savings and housing banks face coefficients of 33.5% and 39.50% respectively. Additionally, the constitution rate for foreign currency liabilities is established at 87.5% in foreign currency and 12.5% in Gourdes.

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Bank of the Republic of Haiti The Governor

Ref.: BRH/DCC/CIRC # 01-19

To Commercial Banks
And Savings and Housing Banks

Effective February 4, 2019, the mandatory reserve coefficients on liabilities denominated in Gourdes and foreign currencies, as well as the reserve constitution rates on liabilities denominated in foreign currencies, will be modified as follows:

Mandatory Reserve Coefficients

	Liabilities in Gourdes	Liabilities in Foreign Currencies
Commercial Banks	45%	51%
Savings and Housing Banks	33.5%	39.50%
Non-bank Subsidiaries	45%	51%

Reserve Constitution Rates on Liabilities in Foreign Currencies

In Gourdes	In Foreign Currencies
12.5%	87.5%

Port-au-Prince, January 29, 2019

[Signature]
Jean Baden Dubois

P.O. BOX 1570, Port-au-Prince, Haiti. Telephone: (509) 2299-1243

Circular Letter on Mandatory Reserves and Their Method of Constitution

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