JD 2112 million excess reserves at CBJ

The volume of excess reserves at the Central Bank of Jordan (CBJ) on Thursday stood at JD2112 million, while the volume of required reserves remained through the past week at JD1148 million. According to the bank's bulletin, excess reserves reached its highest level last Sunday and stood at JD2235 million. The bank's 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. The amount JD50 million being the value of the new two years T.bonds issue number (47/2012) will be issued on 30/09/2012,the bank added.