Banking Legal Reserve Requirements Reduced in Nicaragua

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According to Antenor Rosales, president of the Bank, financial institutions must maintain a minimum reserve of 15% biweekly and a daily minimum reserve of 12%.

Economist Rene Vallecillo spoke to El Nuevo Diario de Nicaragua on the economic effects this can produce. For instance, banks will have about $ 23 million additional dollars which could boost the productive sector through loans. Interest rates are also expected to drop as a result.

Source: elnuevodiario.com.ni

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