National Bank changed specifications of minimal reserve requirements to banks Almaty
July 25. Kazakhstan Today - The National Bank of Kazakhstan changed specifications of the minimal reserve requirements to the banks, new rules will come into force since August 29, 2007. The National Bank of Kazakhstan press service informed the agency. "In conditions of inflationary pressure with the purpose of toughening monetary and credit policy, the board of the National Bank of the Republic Kazakhstan decided to change the specifications of minimal reserve requirements at the session taken place on July 20, 2007," the Central Bank message states. The specification of the minimal reserve requirement for internal obligations has been established at the level of 5 %, for other obligations including obligations to non-residents and debt securities without dependence on the attribute of residence - at the level of 10 %. The previous values of specifications of the minimal reserve requirements made 6 % and 8 %. According to the National Bank, according to the current legislation new specifications inure not earlier than in a month from the date of the decree adoption. The board decided to introduce them since August 29, 2007.
Resourse: Kazakhstan Today