JD 2.217 billion excess reserves at CBJ

The Central Bank of Jordan (CBJ) on Thursday announced that the volume of excess reserves is JD 2.217 billion, while the volume of required reserves declined to JD1.186 billion compared to JD 1.189 billion last week. According to CBJ bulletin,excess reserves last Sunday stood at JD 2.340 billion, the highest level during the current week. CBJ excess reserves come from the surplus funds of banks needed to finance their operations, where the bank pays 2 percent annual interest limited to commercial banks, while Islamic banks are not included. "No overnight repurchase agreements were held Wednesday with the bank," CBJ added.