The BCRA increased the minimum reserve requirements in pesos by 3 p.p. both for demand and term deposits for “Group A” financial institutions. Thus, considering that each minimum reserve requirement percentage point in pesos stands for about ARS20 billion, this measure is intended to absorb liquidity by ARS60 billion. The BCRA holds that a closer monitoring of liquidity in the money market is key to strengthen its institutional anti-inflationary commitment.
The decision was laid down in Communication A 6550. It is effective as from today and will change no existing exceptions or exemptions. This will neither affect UVA or foreign currency-denominated accounts and deposits; minimum reserve requirements will only be met in pesos.
August 16th, 2018