Other salient features in the Monetary Policy Statement

Other salient features in the Monetary Policy Statement
Published: 29 January 2014
• RBZ to resume banker to Government role and host Government's Exchequer Account with effect from March 31 2014.

• RBZ and ministry of financing finalizing legal framework for Credit Reference Bureaus to strengthen credit risk management.

• Holders of gold bonds previously issued by RBZ will be catered for by the government.

• Interest rate policy will be influenced through the proposed yield curve.

• RBZ to issue Treasury bills with rates aligned to the proposed yield curve to be able to provide collateral for banks while simultaneously raising funds for government to bridge short term financing gaps.

• Central bank to closely monitor compliance with required maximum fixed asset ratio of 25 percent.

• Banking sector urged to explore opportunities for the securitisation of mortgage portfolios in order to maximize cash flows and reduce risk for debt originators.

• RBZ targets Point of Sale density of 600 by year end as well as a POS machine for every till machine within five years.

• Fidelity printers will open new buying centres in all gold producing areas in the country.

• All small scale gold producers and custom millers to register with Fidelity printers and submit monthly performance reports to RBZ and Fidelity printers.

• Banks need to simplify account opening procedures and requirements to attract savings.
Tags: RBZ, MPS,


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