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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Egypt: Raising the statutory reserve The banks' deposits with the Central Bank increased by 45 perce

    Rocky
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    banks - Egypt: Raising the statutory reserve The banks' deposits with the Central Bank increased by 45 perce Empty Egypt: Raising the statutory reserve The banks' deposits with the Central Bank increased by 45 perce

    Post by Rocky Thu 19 Oct 2017, 2:23 pm

    [size=30]Egypt: Raising the statutory reserve The banks' deposits with the Central Bank increased by 45 percent[/size]
    19/10/2017 05:51 | Number of readings:
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    Trend Press - Egypt
     
     
     
    An increase in the total liquidity of local banks by the Central Bank under the compulsory reserve rose by 44.9 percent to 254.25 billion pounds ($ 14.44 billion), an Anatolia survey showed.
    This comes days after a decision by the central bank to raise the mandatory reserve on deposits from 10 to 14 percent, effective 10 October.
    The average amount of liquidity deposited by banks at the Central Bank of Egypt under the mandatory reserve rose from 175.4 billion pounds ($ 9.9 billion) before the increase.
    And mandatory reserve, one of the monetary policy tools used by the Central Bank, to reduce the money supply, liquidity ratio, inflation rate and credit granting rates.
    In its latest decisions, the Central Bank of Egypt pointed out that the banks have strong financial and profitability indicators, allowing for a return of the required reserve ratio to their previous rates.
    The Egyptian central bank allows 13 days for banks operating in the local market to deposit 14 percent of its deposits without receiving a return.
    Compulsory reserve represents an increase in the cost of banks as a result of the missed opportunity not to use these credits as part of the invested liquidity.
    (USD = EGP 17.60 on average)  

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