CRR for banks to not applicable on targets of housing, construction finance: SBP

MG News | June 14, 2022 at 02:45 PM GMT+05:00

0:00

June 14, 2022 (MLN): The State Bank of Pakistan (SBP) has decided that Cash Reserve Requirement (CRR) for banks will not be applicable on targets of housing and construction finance for the quarter ending September 30, 2022, and onwards till further instructions on the matter.

In a circular issued today, SBP said, “To facilitate the banks, State Bank has decided that the lower/additional Cash Reserve Requirement for banks that meet/do not meet quarterly targets will not be applicable on surplus/shortfall in targets of housing and construction finance for the quarter ending September 30, 2022, and onwards till further instructions on the matter.”

Accordingly, banks will maintain lower/additional CRR in respect of surplus/shortfall in targets for the quarter ending June 30, 2022, in the next quarter as per the defined procedure.

This means banks will maintain CRR (without lower/additional requirements) from the first reserve maintenance period starting after October 21, 2022.

All other instructions on the subject shall remain unchanged, the circular added.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,579.31 358.03M	-0.91% -1576.48
ALLSHR	102,377.94 1,051.64M	-0.94% -971.09
KSE30	52,105.13 137.57M	-0.98% -515.67
KMI30	246,103.61 187.36M	-0.82% -2040.76
KMIALLSHR	66,237.02 502.46M	-0.95% -636.15
BKTi	48,662.95 65.45M	-1.28% -628.78
OGTi	35,764.69 9.81M	-1.34% -485.97

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,310.00	79,600.00 75,415.00	4250.00 5.66%
BRENT CRUDE	101.71	102.05 96.54	3.23 3.28%
RICHARDS BAY COAL MONTHLY	103.25	0.00 0.00	-0.75 -0.72%
ROTTERDAM COAL MONTHLY	102.00	102.00 101.70	-0.25 -0.24%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	93.15	93.27 87.64	3.48 3.88%
SUGAR #11 WORLD	13.78	13.96 13.67	0.06 0.44%