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

Add Mettisglobal as a Trusted Source on Google

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	172,232.51 274.87M	0.48% 830.43
ALLSHR	104,231.80 771.06M	0.45% 469.06
KSE30	51,283.80 81.98M	0.56% 285.23
KMI30	246,825.53 115.50M	0.88% 2160.35
KMIALLSHR	67,683.64 528.88M	0.58% 392.70
BKTi	47,595.92 11.48M	0.25% 116.71
OGTi	35,380.90 5.06M	0.66% 231.80

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	85,880.00	87,350.00 85,735.00	-410.00 -0.48%
BRENT CRUDE	99.02	100.00 97.91	-0.23 -0.23%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	6.90 5.61%
ROTTERDAM COAL MONTHLY	137.10	137.10 137.10	-0.15 -0.11%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	89.66	90.52 88.71	-0.86 -0.95%
SUGAR #11 WORLD	18.58	18.70 18.26	0.02 0.11%