Circulars/Notifications - Banking Supervision Department  
 BSD Circular No.27
October 04, 2000  

All Banks,

Dear Sirs,

CASH RESERVE OF SCHEDULED BANKS MAINTAINED WITH STATE

BANK OF PAKISTAN UNDER SECTION 36(1) OF SBP ACT, 1956

 

Please refer to BSD Circular No.17 dated 29th June, 2000 on the captioned subject whereby banks were required to maintain with State Bank of Pakistan a weekly average balance of 5% of total Time & Demand Liabilities subject to daily minimum of 4%.

In terms of the powers conferred under Section 36(1) of the State Bank of Pakistan Act, 1956, it has been decided that effective from October 7, 2000 every scheduled bank shall maintain with State Bank an average balance of 7% of its total Time & Demand Liabilities in Pakistan worked out on weekly basis provided that the amount of the balance shall not at the close of business on any day be less than 6% of the total Time & Demand Liabilities in Pakistan.

Other instructions issued vide BSD Circular No.17 dated 29th June, 2000 shall, however, remain unchanged.

Please acknowledge receipt.


Yours faithfully,
Sd/-(KAZI ABDUL MUKTADIR)
Director

       
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