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The Central Bank of Barbados announces a tightening of its monetary policy stance through an increase in its Barbados Dollar securities reserve requirement ratio for commercial banks licensed under Part II of the Financial Institutions Act. The increase will require banks to now hold 15% of their domestic deposits in stipulated securities with effect from June 15, 2017.
This is the first increase since 2007 when the ratio was lowered to 10%.
The cash reserve requirement for commercial banks remains unchanged at 5%. The reserve requirements for deposit-taking trust and finance companies, and merchant banks also remain unchanged.
May 9, 2017