Skopje, 20 August 2025 (MIA) - The National Bank Council has approved a decision to amend and supplement the decision on the mandatory reserve, further strengthening the role of this instrument in promoting savings in domestic currency and for longer terms. At the same time, these changes also provide additional support for the central bank’s monetary policy.

According to the National Bank, with the amendments to the decision on the mandatory reserve, the reserve requirement for foreign currency liabilities with maturities up to two years is increased from 21% to 22%, while for foreign currency liabilities with maturities over two years, banks will be required to set aside a mandatory reserve at double the previous rate, from 5% to 10%. At the same time, the percentage of fulfillment of the calculated mandatory reserve obligation based on foreign currency liabilities paid in euros is increased from 85% to 90%.

The mandatory reserve rate on liabilities in domestic currency has been increased from 8% to 9%. To support long-term denar savings and further strengthen the stability of banks’ deposit base, the changes also foresee normalizing the reserve rate applied to denar deposits of individuals with maturities over one to two years, from the current rate of 0% to 9%.

Most of the measures will be applied from the mandatory reserve period starting in November 2025, except for the normalization of the reserve rate on denar liabilities with maturities over one to two years, for which a delayed implementation of approximately 14 months is planned, allowing banks to appropriately adjust their practices during this period.

The mandatory reserve changes are expected to encourage banks to adjust interest rates, boosting the supply of attractive long-term denar savings products for clients. This will further reinforce favorable trends in the deposit base and increase the long-term share of denar savings.

Photo: MIA/National Bank