RegAlert2016-10-25 | 1295053981Added · Updated
Banking Circular No 7 of 2008 - Revision of the CRR and the CBR
The Central Bank of Kenya has revised the Cash Reserve Requirement (CRR) from 6% to 5% and the Central Bank Rate (CBR) from 9% to 8.5%, effective immediately as of December 1st, 2008. This decision was made by the Monetary Policy Committee (MPC) and communicated to all commercial banks through a banking circular.
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BANKI
CENTRAL BANK OF
KUU YA
KENYA
KENYA
Haile Selassie Ave P. O. Box 60000 - 00200 Nairobi Kenya Telephone: 2860000 Telex: 2237 lst December 2008 BANKING CIRCULAR NO. 7 OF 2008 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS REVISION OF THE CASH RESERVE REQUIREMENT (CRR) & THE CENTRAL BANK RATE (CBR) Following a meeting of the Monetary Policy Committee (MPC) held on 1ª December 2008, the Central Bank of Kenya has decided to revise the Cash Reserve Requirement (CRR) from 6% to 5%.
In addition, the Bank has also reviewed the Central Bank Rate (CBR) from 9% to 8.5%. The above changes take effect immediately.
NYAOMA
DIRECTOR, BANKING SERVICES DEPARTMENT
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Source: Central Bank of Kenya — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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