Financial and Banking News


Banque du Liban Increases Reserve Requirements

Faced with an accelerated decline in the value of the local currency, which has lost some 25X of its value in the past two weeks, the Banque du Liban (Central Bank) last week tightened reserve requirements in an attempt to force local banks to hold more LL-denominated assets. The new requirements increase the minimum cash deposit which local banks must keep with the Banque du Liban from 10% to 12%...