FROM JULY, NORM OF MINIMAL RESERVE REQUIREMENTS FOR FUNDS, ATTRACTED IN FOREIGN CURRENCY, TO BE DEFINED ACCORDING TO BANK’S LEVEL OF DEPOSITS’ DOLLARIZATION

National Bank of Georgia (NBG) decided to determine, starting from July, the norm of minimal reserve requirements for funds, attracted by banks in foreign currency, separately for each bank in accordance with the level of dollarization of deposits.

Namely, if the level of deposits’ dollarization in the bank does not exceed 40%, then the reserve norm for the balance of funds, attracted in foreign currency for a period of up to 1 year, will be decreased from 25% to 10%.