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 April 4, 2020 with Moldova)

COUNTRY CENTRAL BANK DATE  RATIO   PREVIOUS ALBANIA Bank of Albania 10.00% ANGOLA National Bank of Angola 23-Oct-19 22.00% 17.00% ARMENIA Central Bank of Armenia 24-Feb-14 2.00% 4.00% ARGENTINA Central Bank of Argentina 28-Sep-18 44.00% 41.00% ARUBA Centrale Bank van Aruba 11.00% AZERBAIJAN Central Bank of the Rep. of Azerbaijan 1-Mar-15 0.50% 2.00% BANGLADESH Bangladesh Bank  24-Mar-20 5.00% 5.50% BARBADOS Central Bank of Barbados 5.00% BELARUS National Bank of the Rep. Of Belarus 16-Mar-16 7.50% 9.00% BRAZIL 2) Central Bank of Brazil 26-Jun-19 31.00% 33.00% BULGARIA Bulgarian National Bank  28-Nov-08 10.00% 12.00% CAMEROON Bank of Central African States (BEAC) 7.00% 11.75% CAPE VERDE Bank of Cape Verde 16-Feb-15 15.00% 18.00% CEN. AFRICAN REPUBLIC Bank of Central African States (BEAC) 7.00% CHAD Bank of Central African States (BEAC) 7.00% 7.75% CHINA  People's Bank of China 2-Jan-20 12.50% 13.00% DEM. REP. OF CONGO Central Bank of Congo 24-Mar-20 0.00% 2.00% REPUBLIC OF CONGO Bank of Central African States (BEAC) 7.00% 11.75% COSTA RICA Central Bank of Costa Rica 30-Jan-20 12.00% 15.00% CROATIA Croatian National Bank 11-Dec-13 12.00% 13.50% CZECH REPUBLIC Czech National Bank 20-May-99 2.00% 5.00% CURACAO & ST. MAARTEN Central Bank of Curacao and St. Maarten 4-Feb-20 19.00% 18.00% DENMARK National Bank of Denmark 2.00% EGYPT Central Bank of Egypt 3-Oct-17 14.00% 10.00% EQUATORIAL GUINEA Bank of Central African States (BEAC) 7.00% 11.75% ESWATINI Central Bank of Eswatini 20-Mar-20 5.00% 6.00% EURO AREA European Central Bank  18-Jan-12 1.00% 2.00% FIJI Reserve Bank of Fiji 7-Jul-10 10.00% GABON Bank of Central African States (BEAC) 7.00% 11.75% GAMBIA Central Bank of The Gambia 19-Jun-13 15.00% 12.00% GEORGIA National Bank of Georgia 13-Jun-18 5.00% 7.00% GHANA Bank of Ghana 18-Mar-20 8.00% 10.00% HUNGARY Central Bank of Hungary 24-Mar-20 0.00% 1.00% ICELAND 4) Central Bank of Iceland 11-Mar-20 0.00% 1.00% INDIA 1) Reserve Bank of India 27-Mar-20 3.00% 4.00% INDONESIA Bank Indonesia 21-Nov-19 5.50% 6.00% IRAQ Central Bank of Iraq 1-Sep-10 15.00% ISRAEL Bank of Israel 6.00% JAMAICA Bank of Jamaica 3-Jun-19 7.00% 9.00% JORDAN Central Bank of Jordan 15-Mar-20 5.00% 7.00% KAZAKHSTAN National Bank of Kazakhstan 2.50% KENYA Central Bank of Kenya 23-Mar-20 4.25% 5.25% KYRGYZ REPUBLIC National Bank of the Kyrgyz Republic 14-Dec-15 4.00% 4.50% LITHUANIA Bank of Lithuania 3.00% MACEDONIA National Bank of the Rep. of Macedonia 9-Sep-13 8.00% MALAWI Reserve Bank of Malawi 3-Apr-20 3.75% 5.00% MALAYSIA Bank Negara Malaysia 19-Mar-20 2.00% 3.00% MALDIVES Maldives Monetary Authority 20-Aug-15 10.00% 20.00% MAURITIUS Central Bank of Mauritius 13-Mar-20 8.00% 9.00% MOLDOVA National Bank of Moldova 3-Apr-20 34.00% 40.00% MONGOLIA Bank of Mongolia 11-Mar-20 8.50% 10.50% MOROCCO Bank of Morocco 26-Sep-19 2.00% 4.00% MOZAMBIQUE Bank of Mozambique 26-Oct-17 14.00% 15.00% NEPAL Nepal Rastra Bank 11-Jul-18 4.00% 6.00% NICARAGUA Central Bank of Nicaragua 15-Jun-18 10.00% 12.00% NIGERIA Central Bank of Nigeria 24-Jan-20 27.50% 22.50% PAKISTAN State Bank of Pakistan 12-Oct-12 3.00% 4.00% PERU Central Reserve Bank of Peru 30-Apr-17 5.00% 6.00% PHILIPPINES Bangko Sentral ng Pilipinas 24-Mar-20 12.00% 15.00% POLAND National Bank of Poland 17-Mar-20 0.50% 3.50% QATAR Qatar Central Bank  16-Mar-17 4.50% 4.75% ROMANIA National Bank of Romania 6-May-15 8.00% 10.00% RUSSIA  Bank of Russia 27-Jun-16 5.00% 4.25% RWANDA National Bank of Rwanda 5.00% SERBIA National Bank of Serbia 19-Jan-11 5.00% SEYCHELLES Central Bank of Seychelles 13.00% SOUTH AFRICA South African Reserve Bank 2.50% SRI LANKA Central Bank of Sri Lanka 16-Mar-20 4.00% 5.00% SURINAME Centrale Bank van Suriname 4-Nov-15 35.00% 30.00% SWITZERLAND Swiss National Bank 2.50% TAIWAN Central Bank of the Rep. of China (Taiwan) 1-Jan-11 10.75% 12.00% TAJIKISTAN National Bank of Tajikistan 20-Mar-17 3.00% TANZANIA Bank of Tanzania 10-Jun-19 7.00% 8.00% TONGA Reserve Bank of Tonga 10.00% TRINIDAD & TOBAGO Central Bank of Trinidad & Tobago 17-Mar 14.00% 17.00% TUNISIA Central Bank of Tunisia 1.00% TURKEY Central Bank of Republic of Turkey 16-Feb-19 7.00% 8.00% UNITED STATES   Federal Reserve  15-Mar-20 0.00% 3.00% URUGUAY Central Bank of Uruguay 1-Apr-13 25.00% 20.00% UZBEKISTAN Central Bank of the Rep. Of Uzbekistan 1-Sep-09 15.00% VENEZUELA Central Bank of Venezuela 25-Oct-13 19.00% 17.00% VIETNAM State Bank of Vietnam 1-Sep-11 3.00% WEST AFRICAN STATES Central Bank of West African States (BCEAO) 16-Mar-17 3.00% 5.00% ZAMBIA Bank of Zambia 9-Dec-19 9.00% 5.00% ZIMBABWE  Reserve Bank of Zimbabwe 26-Mar-20 4.50% 5.00% 1) cut for 1 year 2) Time deposits  4) average requirement

  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 CentralBankNews.info as the source, and if online, provide a link back to www.CentralBankNews.info