YEREVAN, February 2. /ARKA/. The Central Bank of Armenia has changed the mandatory reservation norms as part of a plan to enhance confidence in the national currency, the bank’s press office reported on Wednesday.
The regulator remains stuck to its policy, is gradually implementing changes in mandatory reservation norms.
At this stage of its campaign, the regulator stated that from the minimum amount of mandatory reserves placed in the central bank for financial resources in foreign currencies, which make up 12%, nine percent must be reserved in drams instead of former 6%, and 3% must be reserved in foreign currencies instead of former 6%.
This requirement takes force from the moment of issuing the decision and applies to all the banks of Armenia.
The central bank’s board has also revised the form of insurance brokers’ reports and terms of submission as well as the rules for regulating licensing of forex operations and pawn activities. -0–
