Please
refer to BSD Circular No. 03 dated January 31, 2008 and
BSD Circular No. 09 dated July 18, 2006 on the captioned
subject.
2. In exercise of the powers conferred upon the State
Bank of Pakistan under Section 36 of the State Bank of
Pakistan Act, 1956, and Section 29 of the Banking Companies
Ordinance, 1962 it has been decided to revise the Cash
Reserve Requirement (CRR) and Statutory Liquidity Requirement
(SLR) with effect from 24th May 2008 as under:-
A- Cash Reserve Requirement:
i)
Weekly average of 9% (subject to daily minimum of 8%)
of total Demand Liabilities (including Time Deposits with
tenor of less than 1 year)
ii) Time Liabilities (including Time Deposit with tenor
of 1 year and above) will not require any Cash Reserve.
B-
Statutory Liquidity Requirement:
19%
(excluding CRR) of Total Time and Demand Liabilities.
3.
All other instructions on the subject shall, however,
remain unchanged.
Please
acknowledge receipt.