Regulatory Alerts2017-06-09
Added · Updated
Instructions on Compulsory Cash Reserve No (68/ 2016)
The Central Bank of Jordan issues Instructions No. 68/2016 to establish the calculation and maintenance requirements for compulsory cash reserves for banks. The document mandates a 7% reserve ratio on customer deposits, split into a 65% portion retained for one month and a 35% portion maintained via daily averages over a 14-day period. It specifies procedures for foreign currency deposits, approval of reporting forms, and imposes fines for violations, with the instructions effective for data from January onwards.
Topics
monetary
Share