Macedonia’s central bank changes reserve requirements.

By bne IntelliNews July 5, 2013

The central bank has changed the required reserve ratios for local and foreign currency bank liabilities, a release on the institution’s website informs. The reserve requirement for domestic currency liabilities was cut to 8% from 10%. The ratio for foreign currency liabilities was raised to 15% from 13%. The measure is expected to support the growth of local currency savings and restructure the currency composition of the banking system’s liabilities.

The total banking assets in Macedonia increased by 5.9% y/y to MKD 355.7bn (EUR 5.8bn) at end-March, down from 6.6% at end-2012. The total asset stock was equal to 72.4% of the projected GDP.

The stock of deposits included in broad money increased by 3.3% y/y to MKD 243.3bn (EUR 3.95bn) at end-May. Local currency deposits rose by 9.3% y/y to MKD 135.5bn, while foreign currency deposits dropped by 3.4% y/y to MKD 107.8bn.

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