BoB fines banks P1m for breaching liquidity limits
Wednesday, September 16, 2015
“Towards the end of 2014, some banks experienced significant short-term liquidity shortages, to the extent that their liquid assets to total deposits ratio fell below the statutory prescribed limit. Consistent with the Banking Act, a monetary penalty fee of P892 263 was levied on all non-compliant banks,” said the central bank in the 2014 Banking Supervision Annual report.
The Banking Act prescribes that commercial banks are required to keep at least 10 percent of their assets in liquid form such as cash, BoB certificates and current account balances with domestic banks.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...