Banque du Liban Mandatory Reserve Loses About 4 Billion Dollars So Far

A banking source warned against the "dangerous situation related to the continued spending from the USD mandatory reserve in the BDL and its shortage.

According to the source, this mandatory reserve is the depositors' remaining funds transferred by the banks to the BDL, following the latter’s circular.

The Central Bank imposed a deposit of 15% of banks' total USD deposits, which was later reduced to 14%.

“The current reserve in the BDL is supposed to be within 13.3 billion dollars, while the available reserve reaches about 9.45 billion dollars. Therefore, "the mandatory reserve lost about 4 billion dollars so far," the source added.