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Reserve Requirementson Foreign Currency Deposits in Sub-Saharan Africa Main Features and Policy Implications

This paper reviews the reserve requirement arrangements of sub-Saharan Africa, focusing on the differences between reserve requirements on domestic- and foreign-currency deposits. The reserve requirement systems in sub-Saharan Africa are relatively simple and transparent, but in some countries high...

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Bibliographic Details
Main Author: Kovanen, Arto
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2002
Series:IMF Working Papers
Subjects:
Money And Monetary Policy
Currencies
Central Banks And Their Policies
Central Banks
Government And The Monetary System
Payment Systems
Micro Finance Institutions
Standards
Monetary Economics
Banking
Banks
Mortgages
Monetary Policy
Money Supply
Money
Regimes
Monetary Base
Depository Institutions
Banks And Banking
Financial Services
Open Market Operations
Monetary Policy, Central Banking, And The Supply Of Money And Credit: General
Reserve Requirements
Monetary Systems
Bank Deposits
São Tomé And Príncipe, Democratic Republic Of
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper reviews the reserve requirement arrangements of sub-Saharan Africa, focusing on the differences between reserve requirements on domestic- and foreign-currency deposits. The reserve requirement systems in sub-Saharan Africa are relatively simple and transparent, but in some countries high unremunerated reserve ratios impose a significant implicit tax on the banks. The currency denomination of the foreign-currency reserve deposits raises concern in countries undergoing large macroeconomic changes or experiencing exchange rate volatility
Physical Description:19 pages
ISBN:9781451848694

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