NewsMontenegro's mandatory bank reserves reach €303.8 million by September end

Montenegro’s mandatory bank reserves reach €303.8 million by September end

Supported byOwner's Engineer banner

As of the end of September, Montenegro’s mandatory bank reserves totaled €303.8 million, according to data from the Central Bank (CBCG).

Of this total, 72.57% is held in domestic bank accounts for mandatory reserves, while 27.43% is kept in accounts at the CBCG abroad.

Supported by

The average total deposits of banks in August, which form the basis for calculating the mandatory reserve, amounted to €5.57 billion. Of this total, 85.21% are demand deposits, and 14.79% are time deposits.

The mandatory reserve was established following a decision by the CBCG, which implemented a calculation system with a rate of 5.5% applied to the portion of the base made up of demand deposits and deposits with maturities of up to one year, and a rate of 4.5% on deposits with maturities exceeding one year.

Supported byElevatePR Digital

For deposits with maturities exceeding one year that include a clause allowing withdrawal in less than a year, a rate of 5.5% applies.

Banks can use up to 50% of the mandatory reserves, interest-free, to maintain daily liquidity, provided that any used amount is returned on the same day.

Supported byspot_img

Related posts
Related

Supported byspot_img
Supported byspot_img
Supported byInvesting Montenegro logo
Supported byMonte Business logo
error: Content is protected !!