TY - BOOK ID - 85596764 TI - Bosnia and Herzegovina : Technical Assistance Report-Implementation of a New Reserve Requirement Framework. PY - 2019 SN - 151351749X 1513517473 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Bosnia and Herzegovina KW - Bosnia and Hercegovina KW - Socijalistička Republika Bosna i Hercegovina KW - Bosna i Hercegovina KW - SRBiH KW - S.R.B. i H. KW - Bosnīi︠a︡-Gert︠s︡egovina KW - Bosnien und die Hercegovina KW - NR BiH KW - Bosna ve Hersek KW - Bosnia-Herzegovina KW - Bosnien-Herzegowina KW - Republic of Bosnia and Herzegovina KW - Republika Bosna i Hercegovina KW - Republika Bosne i Hercegovine KW - Būsnah wa-al-Hirsik KW - Būsnah wa-al-Harsak KW - Босна и Херцеговина KW - Bosnia KW - Narodna Republika Bosna i Hercegovina KW - People's Republic of Bosnia and Hercegovina KW - Socialist Republic of Bosnia and Hercegovina KW - Bosnië-Herzegowina KW - بوسنة والهرسك KW - Bosnia y Herzegovina KW - Bosna shi Hertsegovina KW - Bosnie-Hèrzègovena KW - Vonia ha Hesegovina KW - Bosniya vä Herseqovina KW - Bosna kap Hercegovina KW - Боснія і Герцагавіна KW - Bosnii︠a︡ i Hertsahavina KW - Bosnya asin Hersegobina KW - Bosnya asin Hersegovina KW - Bosnia & Herzegovina KW - Bosnien und Herzegowina KW - Bosnia-ha-Herzegovina KW - Bosna i Khert︠s︡egovina KW - Bòsnia i Hercegovina KW - Bosnia ug Herzegovina KW - Bosna a Hercegovina KW - Republika Bosna a Hercegovina KW - Bosnia na Herzegovina KW - Bosnia è Erzegovina KW - Bosnia a Hercegovina KW - Bosna a Hertsegofina KW - Bosnia-Hercegovina KW - Bosna i Herzegovina KW - Bosnien-Hercegovina KW - Bosna dóó Hetsog Bikéyah KW - Bosniska-Hercegowinska KW - Bosnia ja Hertsegoviina KW - Βοσνία και Ερζεγοβίνη KW - Vosnia kai Erzegovinē KW - Bosnio kaj Hercegovino KW - Bosnujo kaj Hercegovino KW - Bósnia Ercegovina KW - Bosnie-Herzégovine KW - Bosnie-et-Herzégovine KW - République de Bosnie-Herzégovine KW - Bosnje KW - Bhoisnia-Heirseagaivéin KW - Poblacht na Boisnia-Heirseagaivéine KW - Bosnia as Herzegovina KW - Bosniya hem Herțegovina KW - Bosna agus Heartsagobhana KW - Bosnia e Hercegovina KW - Pô-sṳ-nì-â lâu Het-set-kô-vì-ná KW - Босмудин болн Херцегудин Орн KW - Bosmudin boln Khert︠s︡egudin Orn KW - Bosenia me Hesegowina KW - Bosniska a Hercegowina KW - Bosnia e Herzegovina KW - Bosnia dan Herzegovina KW - Republik Bosnia dan Herzegovina KW - Босни æмæ Герцеговинæ KW - Bosni æmæ Gert︠s︡egovinæ KW - Bosnía og Hersegóvína KW - Bosnía-Hersegóvína KW - Bosnia-Erzegovina KW - Bosnia ed Erzegovina KW - בוסניה והרצגובינה KW - Bosniyah ṿe-Hertsegovinah KW - Bosna KW - BiH KW - Economic conditions. KW - Social conditions. KW - Politics and government. KW - Banking KW - Banks and Banking KW - Banks and banking KW - Banks KW - Budget KW - Budgeting & financial management KW - Budgeting KW - Central banks KW - Currencies KW - Debt Management KW - Debt KW - Depository Institutions KW - Foreign exchange reserves KW - Government and the Monetary System KW - Government liabilities KW - International reserves KW - Micro Finance Institutions KW - Monetary economics KW - Monetary Policy KW - Monetary policy KW - Monetary Systems KW - Money and Monetary Policy KW - Money KW - Mortgages KW - Payment Systems KW - Public financial management (PFM) KW - Regimes KW - Reserve currencies KW - Reserve requirements KW - Sovereign Debt KW - Standards UR - https://www.unicat.be/uniCat?func=search&query=sysid:85596764 AB - This Technical Assistance (TA) report on Bosnia and Herzegovina highlights that the negative spread in a context of structural lower returns on foreign exchange reserves and sizable capital inflows has led to a gradual and steady erosion of the currency board coverage ratio. The Central Bank of Bosnia and Herzegovina (CBBH) requested Technical Assistance to review its reserve requirement framework. The mission recommends aligning the remuneration of reserve requirements on foreign exchange liabilities to the CBBH’s opportunity cost. The mission also recommends prescribing the fulfilment in foreign currency of the reserve requirements for foreign currency liabilities. It also suggested altering the remuneration scheme of domestic reserve requirements. In order to be neutral from an intermediation perspective, the reserve requirement remuneration should be aligned to the market-neutral uncovered interest rate parity rate, whereas the remuneration of excess reserves may take place significantly below the market-neutral rate but at or above the foreign currency remuneration rate. The CBBH may benefit from a constructive dialogue with the Area Department or TA to set the new rates of remuneration of domestic reserve requirement and excess reserves. ER -