Regulatory Alerts2020-03-21
Circular to Banks: Mandatory Reserves
The Bank of Haiti issued Circular BRH/DCC/CIRC#01-20 on March 19, 2020, effective March 20, 2020, to modify mandatory reserve coefficients and foreign currency reserve formation rates. The circular increases reserve coefficients for commercial banks and non-bank subsidiaries to 40% for gourde liabilities and 51% for foreign currency liabilities, while setting rates for savings and housing banks at 28.5% and 39.50% respectively. Additionally, it establishes the reserve formation rates for foreign currency liabilities at 12.5% in gourdes and 87.5% in foreign currencies.
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