Circulars/Notifications - Banking Supervision Department  
 BPRD Circular No. 27
July 2, 1999  

All Scheduled Banks

Dear Sirs,

Maintenance of Statutory Cash Reserve under
Section 35 (1) of State Bank of Pakistan Act, 1956
(Restoration of the requirements
in place prior to May 19, 1999)

It may be recalled that in terms of the instructions notified vide BPRD Circular No. 16 dated the 18th May, 1999 and BPRD Circular Letter No. 20 dated the 20th May, 1999, weekly reserve requirements were reduced from 5.0 per cent to 3.5 per cent of the demand and time liabilities, subject to daily minimum of 2.5 per cent.

2.  In supersession of the above instructions, and in terms of the powers conferred under Section 36(1) of the State of Pakistan Act, 1956 it has been decided o revert back to the requirements operative before May 19, 1999 and, accordingly, effective from 12th July, 1999, every scheduled bank shall maintain with State Bank an average weekly balance equivalent to 5.0 per cent of its demand and time liabilities in Pakistan, subject to the conditions that daily balance will be, as a minimum, 4.0 per cent of the demand and time liabilities.

3.        Other relevant instructions shall, however, remain unchanged

            Please acknowledge receipt.


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

       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.