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BTA released funds of US$79 million as a result of MRRs lowering
03.03.2009The National Bank of Kazakhstan has reduced its minimum reserve requirements (MRRs) for the nation’s second-tier or commercial banks reported. For domestic obligations, MRRs have been reduced from 2% to 1.5%, for other obligations, from 3% to 2.5%.
The new, lower MRRs freed up KZT 11.9 billion (US$79 million) in extra funds for BTA and result in circa KZT 50 billion (US$332 million) of extra liquidity for the country’s banking system (currently, KZT 150.60 / US$1)