Solomon Islands central bank cuts reserve requirements
Reducing requirements will ensure ample liquidity is provided to banking sector, central bank says
The Central Bank of the Solomon Islands has lowered its cash reserve requirements from 7.5% to 5%, as part of its response to Covid-19.
The CRR mandates the level of reserves banks need to hold at the central bank as a share of customer deposits.
The reduction of the ratio, the central bank says in a statement, will support the banking sector and ensure additional liquidity is provided. The changes come into effect today (June 15).
“Notwithstanding this policy development, other supervisory
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