Regulatory Alerts2015-06-13 | 14/1Added · Updated
On Approving the Regulation on the Mechanism for Forming Interest Rates on Deposits (Savings) Attracted by Commercial Banks
This Regulation establishes rules for commercial banks, including microfinance banks, to form interest rates on deposits (savings) attracted in national currency. Banks must set interest rates based on the Central Bank's refinancing rate and inflation. The Central Bank will monitor these rates quarterly and investigate banks whose weighted average interest rate on deposits exceeds the refinancing rate, potentially instructing them to optimize (reduce) rates if found to be unreasonably high based on financial indicators. Banks are required to submit quarterly consolidated reports on attracted deposits and their interest rates to the Central Bank. This decision enters into force three months after its official publication.
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