Podgorica, (MINA-BUSINESS) – According to the figures released by the Central Bank of Montenegro (CBCG), the mandatory reserves of Montenegrin commercial banks amounted to €250.9 million at the end of August.
Of this amount, 54.8 percent has been deposited in the country, and 45.2 percent on the CBCG’s accounts abroad.
An average amount of the total deposits of banks, to which mandatory reserve requirement applies, was around €3.39 billion at the end of August.
Sight deposits account for 65 percent, and time deposits for 35 percent of their total amount.
Montenegrin banks have allocated their mandatory reserves on the basis of a CBCG decision.
The banks are allowed to use up to 50 percent of the allocated reserves interest free, for the maintenance of daily liquidity, provided that they repay the amount they used on the same day.
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