Starting September 2016, modify the implementation of reserve requirements by allowing banks to meet the requirements, on average, over a maintenance period.
Introduced at R4 for assessment at R6. Justification: Strengthen liquidity management. At R5&R6 Not met. The CBL has amended regulations on reserve requirements and shared them with staff in September 2016. However, the
implementation of the new reserve requirement system has been delayed by the legal requirement to make the regulation effective.