Regulatory Alerts1995-06-25
Added · Updated
Directive No. SBB/4/95 Legal Reserve
Every bank must transfer 25% of its annual net profit to its Legal Reserve Account until the account balance equals the bank's capital. Once the legal reserve account equals the capital, the required transfer amount decreases to 10% of the annual net profit. These directives entered into force on August 21, 1995.
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