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 Nov. 30, 2017 with Angola)

ALBANIA Bank of Albania 10.00%
ANGOLA National Bank of Angola 30-Nov-17 21.00%
ARMENIA Central Bank of Armenia 24-Feb-14 2.00%
ARGENTINA Central Bank of Argentina 2-Mar-17 20.00%
AZERBAIJAN Central Bank of the Rep. of Azerbaijan 1-Mar-15 0.50%
BANGLADESH Bangladesh Bank  24-Jun-14 6.50%
BARBADOS Central Bank of Barbados 5.00%
BELARUS National Bank of the Rep. Of Belarus 16-Mar-16 7.50%
BULGARIA Bulgarian National Bank  28-Nov-08 10.00%
CAMEROON Bank of Central African States (BEAC) 7-Apr-16 5.88%
CAPE VERDE Bank of Cape Verde 16-Feb-15 15.00%
CEN. AFRICAN REPUBLIC Bank of Central African States (BEAC) 7-Apr-16 0.00%
CHAD Bank of Central African States (BEAC) 7-Apr-16 3.88%
CHINA People's Bank of China 29-Feb-16 17.00%
DEM. REP. OF CONGO Central Bank of Congo 8-Apr-15 2.00%
REPUBLIC OF CONGO Bank of Central African States (BEAC) 7-Apr-16 5.88%
COSTA RICA Central Bank of Costa Rica 15.00%
CROATIA Croatian National Bank 11-Dec-13 12.00%
CZECH REPUBLIC Czech National Bank 20-May-99 2.00%
CURACAO & ST. MAARTEN Central Bank of Curacao and St. Maarten 10-Oct-13 18.00%
DENMARK National Bank of Denmark 2.00%
EGYPT Central Bank of Egypt 3-Oct-17 14.00%
EQUATORIAL GUINEA Bank of Central African States (BEAC) 7-Apr-16 5.88%
EURO AREA European Central Bank  18-Jan-12 1.00%
FIJI Reserve Bank of Fiji 7-Jul-10 10.00%
GABON Bank of Central African States (BEAC) 7-Apr-16 5.88%
GAMBIA Central Bank of The Gambia 19-Jun-13 15.00%
GEORGIA National Bank of Georgia 27-Apr-16 7.00%
GHANA Bank of Ghana 12-Nov-14 10.00%
HUNGARY Central Bank of Hungary 1-Dec-16 1.00%
ICELAND Central Bank of Iceland 1-Jun-16 2.00%
INDIA Reserve Bank of India 1-Jul-13 4.00%
INDONESIA Bank Indonesia 18-Feb-16 6.50%
IRAQ Central Bank of Iraq 1-Sep-10 15.00%
ISRAEL Bank of Israel 6.00%
JAMAICA Bank of Jamaica 1-Jul-10 12.00%
JORDAN Central Bank of Jordan 12-Mar-09 8.00%
KAZAKHSTAN National Bank of Kazakhstan 2.50%
KENYA Central Bank of Kenya 5.25%
KYRGYZ REPUBLIC National Bank of the Kyrgyz Republic 14-Dec-15 4.00%
LITHUANIA Bank of Lithuania 3.00%
MACEDONIA National Bank of the Rep. of Macedonia 9-Sep-13 8.00%
MALAWI Reserve Bank of Malawi 23-May-08 15.50%
MALAYSIA Bank Negara Malaysia 16-May-11 3.00%
MALDIVES Maldives Monetary Authority 20-Aug-15 10.00%
MAURITIUS Central Bank of Mauritius 2-May-14 9.00%
MOLDOVA National Bank of Moldova 30-Jul-15 32.00%
MONGOLIA Bank of Mongolia 23-Feb-11 9.00%
MOROCCO Bank of Morocco 21-Jun-16 5.00%
MOZAMBIQUE Bank of Mozambique 10-Aug-17 15.00%
NIGERIA Central Bank of Nigeria 22-Mar-16 22.50%
PAKISTAN State Bank of Pakistan 12-Oct-12 3.00%
PERU Central Reserve Bank of Peru 30-Apr-17 5.00%
PHILIPPINES Bangko Sentral ng Pilipinas 30-May-14 20.00%
POLAND National Bank of Poland 31-Dec-10 3.50%
QATAR Qatar Central Bank  16-Mar-17 4.50%
ROMANIA National Bank of Romania 6-May-15 8.00%
RUSSIA 2) Bank of Russia 27-Jun-16 5.00%
RWANDA National Bank of Rwanda 5.00%
SERBIA National Bank of Serbia 19-Jan-11 5.00%
SOUTH AFRICA South African Reserve Bank 2.50%
SRI LANKA Central Bank of Sri Lanka 30-Dec-15 7.50%
TAIWAN Central Bank of the Rep. of China (Taiwan) 1-Jan-11 10.75%
TAJIKISTAN National Bank of Tajikistan 20-Mar-17 3.00%
TANZANIA Bank of Tanzania 21-Mar-17 8.00%
TRINIDAD & TOBAGO Central Bank of Trinidad & Tobago 17.00%
TUNISIA Central Bank of Tunisia 1.00%
TURKEY Central Bank of Republic of Turkey 6-Sep-16 10.50%
UNITED STATES  Federal Reserve 1) 27-Oct-16 3.00%
URUGUAY Central Bank of Uruguay 1-Apr-13 25.00%
UZBEKISTAN Central Bank of the Rep. Of Uzbekistan 1-Sep-09 15.00%
VENEZUELA Central Bank of Venezuela 25-Oct-13 19.00%
VIETNAM State Bank of Vietnam 1-Sep-11 3.00%
WEST AFRICAN STATES Central Bank of West African States 16-Mar-17 3.00%
ZAMBIA Bank of Zambia 22-Nov-17 8.00%
1) 3% on net transactions >$16M to $122.3M, 10% on transactions >$122.3M. Amounts indexed annually
2) RR on FX liabilities 7.00% as of Aug. 1, 2016

  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