In terms of Powers conferred upon State Bank of Pakistan
under section 18 of Microfinance Institutions Ordinance
– 2001, following amendments have been made in PR
No. 6 & 27 to streamline calculations and reporting
of Cash Reserve Requirement (CRR) and Statutory Liquidity
Requirement (SLR) of MFBs.
PR # 6: Maintenance of Cash Reserve & Liquidity
A
– Cash Reserve Requirement (CRR)
i.
The MFB shall maintain CRR equivalent to not less than
5% of its Deposits (including demand deposits, and time
deposits with tenor of less than 1 year).
ii. Time deposits with tenor of 1 year and above will
not require any cash reserve.
B
– Statutory Liquidity Requirement
i.
The MFB shall also maintain SLR equivalent to at least
10% of its total Demand liabilities, and Time Liabilities
with tenor of less than 1 year.
ii. Time liabilities with tenor of 1 year and above
will not require any SLR.
iii. For SLR calculation, the approved securities mean
Treasury Bills and Pakistan Investment Bonds.
PR
# 27: Submission of Periodical Returns
MFBs shall henceforth submit their CRR and SLR statements
along with bi-weekly (fortnightly) statement of affairs
(annexure-D) to Off-Site Supervision & Enforcement
Department, State Bank. The format of bi-weekly (fortnightly)
statements of CRR and SLR are prescribed at Annexure
D1 and D2 respectively.
3.
The above instructions will be effective from bi-weekly
(fortnightly) due on 28th May, 2010 and onward.
4. All other instructions on the subject shall, however,
remain unchanged.
Please acknowledge receipt.
Encl: Annexure
D1 & D2