what is CRR????? WHAT DO U MEAN BY CRR???
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Answer Posted / kanika
A cash reserve ratio (or CRR) is the percentage of bank
reserves to deposits and notes. The cash reserve ratio is
also known as the cash asset ratio or liquidity ratio. The
Bank of England holds to a voluntary reserve ratio system.
In 1998 the average cash reserve ratio across the entire
United Kingdom banking system was 3.1%. Other countries
have required reserve ratios (or RRRs) that are statutorily
enforced (sourced from Monetary Macroeconomics by Dr. Pinar
Yesin [1] ):
Country Required
Reserve
Ratio %
Australia None
Canada None
Mexico None
Sweden None
United Kingdom None
Eurozone 2.00
Slovakia 2.00
Switzerland 2.50
Chile 4.50
India 7.00
Bulgaria 8.00
Latvia 8.00
Burundi 8.50
Hungary 8.75
China 12.50
Pakistan 7.00
Ghana 9.00
United States 10.00
Sri Lanka 10.00
Estonia 15.00
Zambia 17.50
Croatia 19.00
Tajikistan 20.00
Suriname 35.00
Jordan 80.00
| Is This Answer Correct ? | 23 Yes | 5 No |
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