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Financial News

Oct 2009 Financial News

Deposit-taking firms get new reserve ease

Oct 14, 2009

THE Central Bank of Barbados has announced a modification to its monetary policy.

From October 15, the foreign exchange reserve requirement on deposit-taking financial institutions will be reduced from four per cent to two per cent.

This is the second reduction since the foreign exchange reserve requirement was introduced in December 2005 in order to give the bank access to a higher proportion of the foreign exchange held by the commercial banks at that time.

The foreign exchange requirement was previously reduced in June this year from six per cent to four per cent. (PR)

Nation News
Wednesday October 4, 2009