Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 17
May 18, 1999  

All Scheduled Banks

Dear Sirs,

Maintenance of Liquid Assets in Pakistan
(Reduction in liquidity ratio from 15% 13%)

In exercise of the powers conferred upon State Bank of Pakistan under section 29 of the Banking Companies Ordinance, 1962 it has been decided that effective from May 19, 1999, every banking company shall maintain in Pakistan in cash (excluding Statutory Cash Reserves under section 36(1) of the State Bank of Pakistan Act, 1956) gold or un encumbered approved securities to be valued in a manner as provided for under the said section an amount which shall not at the close of business on any day any less than 13 per cent of the its time and demand liabilities in Pakistan.

2.  The above is in supersession of the existing instructions on the subject, which had set the above ratio at 15 per cent.

3.  Other relevant instructions shall, however, remain unchanged.

          Please acknowledge receipt.


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