Regulatory Alerts2026-06-12
Added · Updated
Remuneration of Reserve Requirements in National and Foreign Currency
The Central Bank of Uruguay establishes new remuneration rules for mandatory reserve requirements and excess balances in both national and foreign currencies, effective September 1, 2026. National currency minimum reserves are remunerated at the Monetary Policy Rate (TPM), while excess balances receive TPM minus 2%. Foreign currency minimum reserves are remunerated at TPM minus 1.5% for short-term USD or EUR obligations and TPM minus 0.5% for other obligations, with all resulting rates floored at zero. These measures replace Resolution D/383/2025 to incentivize de-dollarization and align monetary policy implementation with international standards.
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