Circular to Banks: Mandatory Reserves

The Bank of Haiti issued Circular BRH/DCC/CIRC#01-20 on March 19, 2020, effective March 20, 2020, to modify mandatory reserve coefficients and foreign currency reserve formation rates. The circular increases reserve coefficients for commercial banks and non-bank subsidiaries to 40% for gourde liabilities and 51% for foreign currency liabilities, while setting rates for savings and housing banks at 28.5% and 39.50% respectively. Additionally, it establishes the reserve formation rates for foreign currency liabilities at 12.5% in gourdes and 87.5% in foreign currencies.

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Ref.: BRH/DCC/CIRC#01-20
To Commercial Banks
And to Savings and Housing Banks Effective March 20, 2020, the mandatory reserve coefficients on liabilities denominated in gourdes and foreign currencies, as well as the reserve formation rates on liabilities denominated in foreign currencies, will be modified as follows:

Mandatory Reserve Coefficients

Liabilities in Gourdes	Liabilities in Foreign Currencies
Commercial Banks	40%	51%
Savings and Housing Banks	28.5%	39.50%
Non-bank Subsidiaries	40%	51%

Reserve Formation Rates on Foreign Currency Liabilities

In Gourdes	In Foreign Currencies
12.5%	87.5%

Port-au-Prince, March 19, 2020 Jean Baden Dubois

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Circular to Banks: Mandatory Reserves

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