Regulatory Alerts2025-11-26
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 March 1, 2026. National currency mandatory reserves are remunerated at the Monetary Policy Rate (TPM), while excess balances in national current accounts receive TPM minus 2%. Foreign currency mandatory reserves are remunerated at TPM minus 1% for short-term obligations in USD or EUR and TPM minus 0.5% for other obligations, with excess foreign currency balances receiving TPM minus 1%. These rates are subject to a floor of zero and replace the previous regulations set by Resolution D/239/2023.
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