ENP Newswire -
Release date- 17072014 - On
This Resolution has amended the Provisioning Rules applied to deposits and loans in the foreign currency attracted by the authorized bank from nonresidents (hereinafter - Rules).
The Rules establish a procedure for provisioning under the contract whereby the authorized bank attracts a deposit/loan in the foreign currency from a nonresident with a maturity of 183 consecutive days or with a shorter maturity.
Banks were obliged to keep funds in reserve for each deposit/loan in the foreign currency attracted from a nonresident in an amount equal to 20% of the total value of the transaction.
The reserve ratio has been reduced from 20% to 0%.
Given funding constraints in the domestic and foreign markets, the move will provide banks with additional short-term liquidity to sustain their operating activities.
Most Popular Stories
- Study: Recessions Can Postpone Motherhood Forever
- Tim Cook Has Proved That Apple is His Baby
- Hispanic Entrepreneurs Short-changed in Texas
- China Approves iPhone 6 After Security Assurances
- U.S. Home Prices Rose at Slowest Pace in 20 Months
- Meet the YouTube Tech Review Sensation
- Who Is Daniel Ivascyn?
- Hispanics Carry Big Clout: Census
- Netflix Eyes Hollywood With Feature Film
- PBS Series Examines America's Demographic Shift