Regulatory Alerts2005-06-16
Added · Updated
Instructions, Directives and Interpretations for the Completion of the Revised Form MRR1
The Bank of Namibia introduces a revised Minimum Reserve Requirements return form (MRR 1) to determine the average daily amount of total liabilities to the public and the minimum statutory reserve balances required from banking institutions. This circular repeals previous forms MRR 1 and MRR 2 from Circular 1/05, eliminating the requirement for daily balance submissions on reserve accounts. Banking institutions must submit the new MRR 1 form in both hardcopy and electronic formats by the 14th day of each month for the preceding calendar month, with non-compliance resulting in a filed record. The new requirements and directives become effective from 1 July 2005.
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