Regulatory Alerts2019-05-31
Circular on Time Deposits Exempt from Mandatory Reserves
The Bank of the Republic of Haiti issued Circular BRH/DCC/CIRC # 02-19 to incentivize commercial banks to offer attractive Gourden-denominated financial products to the public. The regulation exempts time deposits from mandatory reserve requirements if their base interest rate is at least 7% per annum plus any positive variation in the Average Acquisition Rate (TMA) during the certificate's holding period. This circular officially repeals and replaces the previous directive dated December 15, 2015.
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