|
Please refer to BSD Circular No. 33 dated 15th December, 2000
on the captioned subject whereby banks were required with SBP
a weekly average balance of 5% of total Time & Demand Liabilities
subject to daily minimum of 4%.
In
terms of powers conferred under Section 36(1) of the SBP Act,
1956 it has been decided that effective from 30th December,
2000 and upto 5th January, 2001, every scheduled bank shall
maintain with SBP an average balance of 5% of its total Time
& Demand Liabilities in Pakistan worked out on weekly
basis provided that the amount of balance shall not at the
close of business on any day be less than 3% of the total
Time & Demand Liabilities in Pakistan. After 5th January,
2001 the said CRR requirement would revert to position stipulated
in BSD Circular No. 33 dated 15th December, 2000.
Other instruction issued vide BSD Circular No.17 dated 29th
June, 2000 shall however, remain unchanged.
Please acknowledge receipt.
|
