Regulatory Alerts2016-03-17
Added · Updated
Instruction No. 10 to Banks (All) - Modification No. 40: Mandatory Reserve Coefficient
Instruction No. 10 to Banks (All) Modification No. 40 establishes the mandatory reserve coefficient for banks in the Democratic Republic of Congo. Banks must maintain reserves in national currency at the Central Bank of Congo, calculated monthly based on specific passive rubrics: 2% for ordinary sight deposits, 0% for term deposits, and 0% for special regime deposits in national currency; and 10%, 9%, and 9% respectively for foreign currency deposits. Compliance is verified at the end of each monthly period against the average daily balance, with penalties applied to any shortfall at the rate of the permanent facilities interest rate plus half.
More like this from BCC
We email you every new BCC publication the day it's published.