Solomon Islands central bank cuts reserve requirements


The Central Bank of the Solomon Islands has lowered its cash reserve requirements from 7.5% to 5%, as part of its response to Covid-19.

The CRR mandates the level of reserves banks need to hold at the central bank as a share of customer deposits.

The reduction of the ratio, the central bank says in a statement, will support the banking sector and ensure additional liquidity is provided. The changes come into effect today (June 15).

“Notwithstanding this policy development, other supervisory

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