Regulatory Alerts2005-07-04
Added · Updated
Directive on the Minimum Reserve Requirement
The Bank of Namibia mandates that all banking institutions maintain a minimum reserve balance equal to one percent of their average daily total liabilities on an interest-free Reserve Account. Institutions must submit monthly liability reports by the 14th and maintain daily balances from the 15th to the following 14th, with up to twenty-five percent of the required amount available for intra-day settlement and automatically reversed at day-end. Non-compliance triggers Bank notifications, potential restrictions on new lending, and daily fines of half a percent on the shortfall or criminal penalties for responsible personnel.
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