Reserve Ratios

     Many central banks, especially in developing and emerging markets, use a required reserve ratio (RRR) or cash reserve ratio (CRR) as a tool of monetary policy. By changing the ratio, central banks can influence the growth of credit.
    The ratio is calculated as a proportion of customer deposits and determines how much commercial banks must set aside rather than lend out. Deposits at commercial banks can take many forms, either as time deposits or sight deposit, and can be in local currency or foreign currency. Central banks often have different ratios for different types of deposits. 
    The table below only includes the ratio for domestic currency deposits to make it easier to compare the ratio at different central banks.
    The table includes the name of the country, the name of the central bank, the date of the last change to the reserve ratio and the current required reserve ratio for domestic currency deposits.

                                                    Required Reserve Ratios Table:
                                                (Updated Jan. 20, 2022 with Ukraine and Indonesia)

ALBANIABank of Albania10.00%
ANGOLANational Bank of Angola23-Oct-1922.00%17.00%
ARMENIACentral Bank of Armenia24-Feb-142.00%4.00%
ARGENTINACentral Bank of Argentina28-Sep-1844.00%41.00%
ARUBACentrale Bank van Aruba3-Apr-207.00%11.00%
AZERBAIJANCentral Bank of the Rep. of Azerbaijan1-Mar-150.50%2.00%
BANGLADESHBangladesh Bank 24-Mar-205.00%5.50%
BARBADOSCentral Bank of Barbados5.00%
BELARUSNational Bank of the Rep. Of Belarus16-Mar-167.50%9.00%
BRAZIL 2)Central Bank of Brazil10-Mar-2117.00%31.00%
BULGARIABulgarian National Bank 28-Nov-0810.00%12.00%
CAMBODIANational Bank of Cambodia17-Nov-217.00%12.50%
CAMEROONBank of Central African States (BEAC)7.00%11.75%
CAPE VERDE 3)Bank of Cape Verde26-Mar-2010.00%13.00%
CEN. AFRICAN REPUBLICBank of Central African States (BEAC)7.00%
CHADBank of Central African States (BEAC)7.00%7.75%
CHINA 5)People's Bank of China6-Dec-2110.00%10.50%
DEM. REP. OF CONGOCentral Bank of Congo24-Mar-200.00%2.00%
REPUBLIC OF CONGOBank of Central African States (BEAC)7.00%11.75%
COSTA RICACentral Bank of Costa Rica30-Jan-2012.00%15.00%
CROATIACroatian National Bank11-Dec-1312.00%13.50%
CZECH REPUBLICCzech National Bank20-May-992.00%5.00%
CURACAO & ST. MAARTENCentral Bank of Curacao and St. Maarten4-Feb-2019.00%18.00%
DENMARKNational Bank of Denmark2.00%
EGYPTCentral Bank of Egypt3-Oct-1714.00%10.00%
EQUATORIAL GUINEABank of Central African States (BEAC)7.00%11.75%
ESWATINICentral Bank of Eswatini20-Mar-205.00%6.00%
EURO AREAEuropean Central Bank 18-Jan-121.00%2.00%
ETHIOPIANational Bank of Ethiopia31-Aug-2110.00%5.00%
FIJIReserve Bank of Fiji7-Jul-1010.00%
GABONBank of Central African States (BEAC)7.00%11.75%
GAMBIACentral Bank of The Gambia28-May-2013.00%15.00%
GEORGIANational Bank of Georgia13-Jun-185.00%7.00%
GHANABank of Ghana18-Mar-208.00%10.00%
GUATEMALABank of Guatemala 1-Jun-0214.60%
HUNGARYCentral Bank of Hungary1-Dec-152.10%1.00%
ICELAND 4)Central Bank of Iceland11-Mar-200.00%1.00%
INDIA 1)Reserve Bank of India4-Feb-214.00%3.00%
INDONESIA 8)Bank Indonesia14-Apr-203.50%5.50%
IRAQCentral Bank of Iraq1-Sep-1015.00%
ISRAELBank of Israel6.00%
JAMAICABank of Jamaica15-May-205.00%7.00%
JORDANCentral Bank of Jordan15-Mar-205.00%7.00%
KAZAKHSTANNational Bank of Kazakhstan2.50%
KENYACentral Bank of Kenya23-Mar-204.25%5.25%
KYRGYZ REPUBLICNational Bank of the Kyrgyz Republic14-Dec-154.00%4.50%
LIBERIACentral Bank of Liberia25.00%25.00%
LITHUANIABank of Lithuania3.00%
MALAWIReserve Bank of Malawi3-Apr-203.75%5.00%
MALAYSIABank Negara Malaysia19-Mar-202.00%3.00%
MALDIVESMaldives Monetary Authority20-Aug-1510.00%20.00%
MAURITIUSCentral Bank of Mauritius13-Mar-208.00%9.00%
MOLDOVANational Bank of Moldova13-Jan-2228.00%26.00%
MONGOLIABank of Mongolia23-Nov-206.00%8.50%
MONTENEGROCentral Bank of Montenegro12-May-205.50%7.50%
MOROCCOBank of Morocco26-Sep-192.00%4.00%
MOZAMBIQUEBank of Mozambique10-Sep-2110.50%11.50%
NEPALNepal Rastra Bank11-Jul-184.00%6.00%
NICARAGUACentral Bank of Nicaragua15-Jun-1810.00%12.00%
NIGERIACentral Bank of Nigeria24-Jan-2027.50%22.50%
NORTH MACEDONIANational Bank of the Rep. of Macedonia9-Sep-138.00%
PAKISTANState Bank of Pakistan12-Oct-123.00%4.00%
PAPUA NEW GUINEABank of Papua New Guinea 30-Mar-207.00%10.00%
PERUCentral Reserve Bank of Peru30-Apr-175.00%6.00%
PHILIPPINESBangko Sentral ng Pilipinas24-Mar-2012.00%15.00%
POLANDNational Bank of Poland6-Oct-212.00%0.50%
QATARQatar Central Bank 16-Mar-174.50%4.75%
ROMANIANational Bank of Romania6-May-158.00%10.00%
RUSSIA Bank of Russia27-Jun-165.00%4.25%
RWANDANational Bank of Rwanda1-Apr-204.00%5.00%
SERBIANational Bank of Serbia19-Jan-115.00%
SEYCHELLESCentral Bank of Seychelles14-Jul-2110.00%13.00%
SOLOMON ISLANDSCentral Bank of Solomon Islands15-Jun-205.00%7.50%
SOUTH AFRICASouth African Reserve Bank2.50%
SOUTH SUDANBank of South Sudan11-Jan-2215.00%20.00%
SRI LANKACentral Bank of Sri Lanka19-Aug-214.00%2.00%
SURINAMECentrale Bank van Suriname4-Nov-1535.00%30.00%
SWITZERLANDSwiss National Bank2.50%
TAIWANCentral Bank of the Rep. of China (Taiwan)1-Jan-1110.75%12.00%
TAJIKISTAN National Bank of Tajikistan28-Jan-213.00%1.00%
TANZANIABank of Tanzania12-May-207.00%7.00%
TONGAReserve Bank of Tonga10.00%
TRINIDAD & TOBAGOCentral Bank of Trinidad & Tobago17-Mar14.00%17.00%
TUNISIACentral Bank of Tunisia1.00%
TURKEYCentral Bank of Republic of Turkey24-Feb-218.00%6.00%
UKRAINE 6) 7)National Bank of Ukraine10-Mar-200.00%
UNITED ARAB EMIRATESCentral Bank of the UAE5-Apr-207.00%14.00%
UNITED STATES  Federal Reserve 15-Mar-200.00%3.00%
URUGUAYCentral Bank of Uruguay1-Apr-1325.00%20.00%
UZBEKISTANCentral Bank of the Rep. Of Uzbekistan1-Jul-194.00%
VENEZUELACentral Bank of Venezuela25-Oct-1319.00%17.00%
VIETNAMState Bank of Vietnam1-Sep-113.00%
WEST AFRICAN STATESCentral Bank of West African States (BCEAO)16-Mar-173.00%5.00%
ZAMBIABank of Zambia9-Dec-199.00%5.00%
ZIMBABWE Reserve Bank of Zimbabwe28-Oct-2110.00%5.00%
1) CRR to be restored in 2 phases
2) Temporary cut on time deposits extended to Nov. 2021 from April 2021
3) minimum cash available ratio (DMC)
4) average requirement
5) for large financial institutions
6) From 3/10/20 reserves to depend on currency of borrowed funds rather than maturity
7) RR to be raised 2% in February 2022
8) RR to be increased in 3 steps, rising to 5.0% on 3/1/22, 6.0% on 6/1/22 and 6.5% on 9/1/22.

  Central Bank News makes every effort to ensure the accuracy of the ratios in the table above at the time of publication. However, as ratios change over time, we cannot guarantee the accuracy of the information above but are working to expand the number of central banks included in the table.
    If you have any corrections to the information, please contact us. You may replicate the table above in full but under the strict condition that you cite as the source, and if online, provide a link back to


  1. Thank you so much for pointing out the error, you are correct and Ghana's RR has now been updated

  2. Hello,

    Thank you so much for these useful informations concerning the RR.
    I just have one question: do you have historitical data (concerning Reserves ratios) for African Countries? For example since 2000?

    Best regards,

    1. I have limited historical data for reserve ratios and mainly focus on those central banks that I cover, of which there are 18 in Africa, excluding North Africa.

    2. Please is it possible to have access to data on these ratios from between 2007 to 2016?

    3. I'm afraid I don't have data going back so far

  3. Replies
    1. Canada began phasing out cash reserve requirement in 1992 and removed it in 1994. If you are interested, see BOC Working Paper 97-8 (April 1997) "Implementation of Monetary Policy in a Regime with Zero Reserve Requirements" by Kevin Clinton

  4. The RRR for WEST AFRICAN STATES is at 3.00% since 16 marsh 2017.

    1. You're correct. I see the decision from March 1. Thank you for contacting me.

  5. Where are you getting these data from?
    ~ why is there no info for Australia, UK, Switzerland, New Zealand and Japan?

    1. Figures come from central banks themselves. Some countries, such as UK, don't use reserve ratios.

  6. Thank you for your useful information.
    I think the minimum reserve rate for the EU is 1 percent since January 2012.

    1. Thank you very much for the comment, the ECB figure has been updated, with ratio and beginning of the maintenance period