Podgorica, (MINA-BUSINESS) – According to the Central Bank of Montenegro (CBCG), mandatory reserves of the Montenegrin commercial banks amounted to €307.05 million at the end of June.

Of this amount, 72.86 percent was deposited in the country, and 27.14 percent on the CBCG’s accounts abroad. 

The average amount of the total deposits of banks, on the basis of which the mandatory reserve requirement is calculated, was €5.63 billion at the end of June.

Sight deposits accounted for 84.37 percent and time deposits for 15.63 percent of their total amount.

Montenegrin banks have allocated their mandatory reserves on the basis of a CBCG decision. 

The banks are allowed to use up to 50 percent of the allocated reserves interest free, for the maintenance of their daily liquidity, provided that they return the amount they used on the same day.