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The move by Bank Negara to lower the non-interest bearing statutory reserve requirement (SRR) ratio to 3.00% from the current 3.50% will release about RM7.4bil into the banking system and ease funding costs, according to economists.
Domestic financial stability was sustained amid bouts of heightened financial market volatility.
MANILA, Feb 14 (Reuters) Philippines banks are unlikely to take more credit risks after the Bangko Sentral ng Pilipinas decided to stop paying interest on banks' required reserves, officials said on Tuesday.
MANILA, Nov 13 (Reuters) The Philippine central bank is seeking comments from local lenders on a plan to modify the current regime of reserve requirements, a move aimed at aligning rules with international standards and not to tighten or loosen policy, officials said.
PETALING JAYA: Former MIC deputy president Datuk S. Subramaniam is backing party president Datuk G. Palanivel's move to re-admit sacked party members under an amnesty initiative.