Colombia cuts reserve requirements in extraordinary meeting

colombia

The Central Bank of Colombia has implemented permanent reductions in banks’ reserve requirements in a bid to boost liquidity during the Covid-19 crisis.

In an emergency meeting, the institution’s board of directors decided to reduce by 3 percentage points the minimum reserve attached to certain bank liabilities, including saving accounts and checking accounts. The minimum ratio has been cut from 11% to 8%.

Additionally, the central bank reduced by 1 percentage point the reserve requirement on

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