Central Banking

Croatia's clearing system in place by Feb 2001

Croatia's new national bank clearing system, transferring payment to banks from a central payments bureau, is expected to start on February 5 2001, the central bank said in a statement on Dec 21 2000.To facilitate smooth operations, it decided to cut the required portion of mandatory reserves banks have to keep with the central bank to 40 percent in January 2001 from 50 percent currently.

It expected this to free up to 500 million kuna ($59 million) in additional liquidity in the system

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