The Central Reserve Bank of Peru reduced the reserve ratio in national currency from 9% to 8.5%, coming into force in February. In addition, the requirement of minimum deposit in a current account of financial institutions has decreased.
The requirement of minimum deposit in current account was reduced from 2% to 1.5% of the total of obligations subject to reserve ratio.
This would represent for financial institutions a S/.576 million availability.
The Central Reserve Bank (BCR) affirmed it continues to adopt easing measures of the reserve regime in national currency.
It aims at providing Nuevos Soles (Peruvian currency) liquidity to financial institutions, so those can reach a higher credit demand in Nuevos Soles.
BCR also specified the loans to private sector in Nuevos Soles annually grew at an 18.6% in December 2014, whereas those in US$ Dollar dropped by 0.6%.
Hence, the total credit to private sector grew by 10.5% last year.
Reserve ratio is a financial tool the Central Bank implements to regulate credit expansion rhythm and financial system liquidity.
(END) JJN/JJN/RGR/MVB
Published: 1/28/2015