Regulatory Alerts1998-07-17
Added · Updated
Minimum Reserve Requirements
The Bank of Namibia establishes a unified minimum reserve ratio of 1% applied to the average daily total liabilities to the public on a monthly basis. Banking institutions must maintain required reserves during a maintenance period from the 15th of one month to the 14th of the next, utilizing an averaging mechanism that permits daily balances to fall to a floor of 75% of the requirement. Returns MRR 1 and MRR 2 are mandated for reporting average liabilities and daily reserve balances, with penalties of 0.1% per day applied for shortfalls below the required minimum or the 75% daily floor.
More like this from BON
We email you every new BON publication the day it's published.
Share