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Montenegro's central bank cuts mandatory reserve requirements for local lenders

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Montenegro's central bank cuts mandatory reserve requirements for local lenders

The central bank of Montenegro reduced the rate of reserve requirements that banks have to hold with the regulator by 2 percentage points to help them boost lending and mitigate the effects of the coronavirus crisis.

The mandatory ratio for deposits with maturity of up to one year will be set at 5.5% following the reduction, while the reserve ratio for deposits with maturity exceeding one year will amount to 4.5%, the central bank said May 12.

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