Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 15
June 21, 1998   

All Banks,

Dear Sirs,

CASH RESERVE OF SCHEDULED BANKS WITH STATE BANK OF PAKISTAN UNDER

SECTION 36 (1) OF SBP ACT, 1956.

 

Please refer to BPRD Circular No. 25 dated 26th July, 1997 on the captioned subject.

2. In terms of the powers conferred under Section 36(1) of the State Bank of Pakistan Act, 1956, the present system of maintaining cash reserves on an average basis has been suspended. Effective from June 22, 1998 and till August 31, 1998, every scheduled bank shall maintain with State Bank a balance amount of which not at close of business on any day be less than 3.75 per cent if demand and time liabilities of foreign currency in Pakistan and 5.0 per cent of demand and time liabilities of foreign currency in Pakistan.

3. Please acknowledge receipt.

Yours faithfully,
Sd/-
(Mansur-ur-Rehman Khan)
Director

       
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