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. 23, 2020, with Mongolia)
| 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 3) | Bank of Cape Verde | 26-Mar-20 | 10.00% | 13.00% |
| 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 | 25-May-20 | 11.00% | 12.50% |
| 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 | 28-May-20 | 13.00% | 15.00% |
| GEORGIA | National Bank of Georgia | 13-Jun-18 | 5.00% | 7.00% |
| GHANA | Bank of Ghana | 18-Mar-20 | 8.00% | 10.00% |
| GUATEMALA | Bank of Guatemala | 1-Jun-02 | 14.60% | |
| HUNGARY | Central Bank of Hungary | 1-Dec-15 | 2.00% | 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 | 14-Apr-20 | 3.50% | 5.50% |
| IRAQ | Central Bank of Iraq | 1-Sep-10 | 15.00% | |
| ISRAEL | Bank of Israel | 6.00% | ||
| JAMAICA | Bank of Jamaica | 15-May-20 | 5.00% | 7.00% |
| 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% | ||
| 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 | 6-Aug-20 | 32.00% | 34.00% |
| MONGOLIA | Bank of Mongolia | 23-Nov-20 | 6.00% | 8.50% |
| MONTENEGRO | Central Bank of Montenegro | 12-May-20 | 5.50% | 7.50% |
| 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% |
| NORTH MACEDONIA | National Bank of the Rep. of Macedonia | 9-Sep-13 | 8.00% | |
| PAKISTAN | State Bank of Pakistan | 12-Oct-12 | 3.00% | 4.00% |
| PAPUA NEW GUINEA | Bank of Papua New Guinea | 30-Mar-20 | 7.00% | 10.00% |
| 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 | 1-Apr-20 | 4.00% | 5.00% |
| SERBIA | National Bank of Serbia | 19-Jan-11 | 5.00% | |
| SEYCHELLES | Central Bank of Seychelles | 13.00% | ||
| SOLOMON ISLANDS | Central Bank of Solomon Islands | 15-Jun-20 | 5.00% | 7.50% |
| SOUTH AFRICA | South African Reserve Bank | 2.50% | ||
| SOUTH SUDAN | Bank of South Sudan | 6-Nov-20 | 20.00% | 10.00% |
| SRI LANKA | Central Bank of Sri Lanka | 16-Jun-20 | 2.00% | 4.00% |
| 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 5) | National Bank of Tajikistan | 8-Apr-20 | 1.00% | 3.00% |
| TANZANIA | Bank of Tanzania | 12-May-20 | 7.00% | 7.00% |
| 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 | 19-Aug-20 | 9.00% | 7.00% |
| UNITED ARAB EMIRATES | Central Bank of the UAE | 5-Apr-20 | 7.00% | 14.00% |
| 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 | ||||
| 3) minimum cash available ratio (DMC) | ||||
| 4) average requirement | ||||
| 5) temporary cut 4/1/20 to 12/31/20 | ||||
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
ghana is 10% now
ReplyDeleteThank you so much for pointing out the error, you are correct and Ghana's RR has now been updated
ReplyDeleteHello,
ReplyDeleteThank 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,
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.
DeletePlease is it possible to have access to data on these ratios from between 2007 to 2016?
DeleteI'm afraid I don't have data going back so far
DeleteWhat about Canada?
ReplyDeleteCanada 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
DeleteThe RRR for WEST AFRICAN STATES is at 3.00% since 16 marsh 2017.
ReplyDeleteYou're correct. I see the decision from March 1. Thank you for contacting me.
DeleteWhere are you getting these data from?
ReplyDelete~ why is there no info for Australia, UK, Switzerland, New Zealand and Japan?
Figures come from central banks themselves. Some countries, such as UK, don't use reserve ratios.
DeleteThank you for your useful information.
ReplyDeleteI think the minimum reserve rate for the EU is 1 percent since January 2012. www.ecb.europa.eu/mopo/implement/mr/html/calc.en.html
Thank you very much for the comment, the ECB figure has been updated, with ratio and beginning of the maintenance period
Delete