The Monetary Board adopts measures to expand liquidity

DOMINICAN REPUBLIC - In Brief 01 Jun 2023 by Magdalena Lizardo
The measures adopted today by the Monetary Board provide additional liquidity for DOP 94 b (USD1.7 b). The measures are aimed at providing financing to the productive sectors and households under favorable conditions. Specifically, the measures are: 1. The release of resources from the legal reserve for some DOP 34 b, equivalent to 2% of the liabilities subject to legal reserve, to be channeled as loans to the productive sectors and households, through multiple banks, savings and loan associations and other financial intermediaries, at an interest rate of up to 9% per year, valid for four years. 2. The creation of a new rapid liquidity facility (FLR) for DOP 60 b, with the objective of providing additional liquidity to the financial system and facilitating financing to the private sector, at an interest rate of no more than 9% per year for two years

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