National Bank introduces new minimum reserve requirements
Almaty. July 29. Kazakhstan Today - The National Bank of the Republic of Kazakhstan introduces today new standards of minimum reserve requirements (MRR), the agency reports referring to the press service of the National Bank. According to the press service, new standards at the level of 5 % of internal obligations and 7 % of other obligations are being introduced instead of the existing standards of 6 % of internal obligations and 8 % of other obligations. As it was informed earlier, decrease of MRR standards will allow banks to release about 90 billion KZT. The released funds can be directed at maintenance of credit activity of the banks. According to the press service, introduction of new standards has cancelled introduction since July 1, 2008 and new standards of the minimum reserve requirements at the level of 5 % of internal obligations and 10 % of other obligations have been introduced.
Resourse: Kazakhstan Today