Regulatory Alerts2009-03-30
Regulation on Calculating and Controlling Reserve Requirements
The Bank of Mongolia issued this regulation to establish the framework for calculating and monitoring reserve requirements on bank deposits to control money supply and ensure liquidity. It mandates that licensed banks maintain specific reserve ratios for both tugrug and foreign currency deposits over 14-day computation and maintenance periods, with requirements calculated based on average daily balances. The document details the supervisory procedures, reporting obligations, and penalty mechanisms for non-compliance, including financial penalties and potential coercive measures for persistent failures.
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