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National Bank to reduce marginal reserve requirements on foreign obligations up to 6%

Astana. May 28. Kazakhstan Today - The National Bank plans in the near future to reduce MRR on foreign obligations up to 6%. Vice chairman of the National Bank of Kazakhstan Bisengali Tadzhiyakov informed today at the plenary Majilis session, the agency reports. "In case of necessity, the measures on provision of stability of financial market will be increased. It implies possibility of considerable decrease of the existing norms of marginal reserve requirements," B. Tadzhiyakov said. "In the near future, we plan to reduce MMR norms on foreign obligations up to 6%..., which will allow, by our estimations, freeing additional liquidity up to 100 billion KZT," he said. Thus, B. Tadzhiyakov underlined, the National Bank will not refrain from granting banks direct long-term aid in considerable volumes."

Resourse: Kazakhstan Today

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