Regulatory Alerts2014-01-01
Bank of Zambia Circular 13/2014 on Government and Vostro Account Deposits in Statutory Reserve Computation
The Bank of Zambia mandates all commercial banks to include Kwacha and foreign currency government deposits alongside Vostro account balances in statutory reserve calculations at the prevailing 14 percent rate. Effective June 9, 2014, these institutions must also transition to daily compliance for their Statutory Reserve Ratio following the re-introduction of this monitoring framework. The central bank will continuously track macroeconomic developments and implement further adjustments as necessary to maintain financial stability.
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