All
Banks/NBFIs,
Dear
Sirs Cash
Reserve Requirement for
Deposits raised under FE Circular 25 of 1998
Please
refer to our BSD Circular No.18 dated 31st March,
2001 on the captioned subject whereby banks/NBFIs
are required to maintain cash reserves in US$ equivalent
to not less than 25% of their total FE 25 deposits on daily
basis with the State Bank in the following manner:-
a)
5%
Cash Reserve Account (US$)
b)
20%
Special Cash Reserve Account (US$)
2.
It has been decided to reduce the Special Cash Reserve
requirement from 20% to 15% of total FE-25 deposits with immediate
effect. Accordingly the banks/NBFIs will henceforth be required
to maintain cash reserve in US$ equivalent to not less than
20% (instead of existing 25%) of their total FE 25 deposits
on daily basis with SBP in the following manner:-
a)
5%
Cash Reserve Account (US$)
b)
15%
Special Cash Reserve Account (US$)
3. All other instructions
on the subject shall remain unchanged.
Please acknowledge receipt.
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