Bank Deposits and Legal Reserve Requirements.

1960 ◽  
Vol 15 (4) ◽  
pp. 604
Author(s):  
John A. Griswold ◽  
Frank E. Norton ◽  
Neil H. Jacoby
Keyword(s):  
Reserve Requirements ◽  
Bank Deposits

International Monetary Fund

1960 ◽  
Vol 14 (4) ◽  
pp. 668-669 ◽  
Keyword(s):  
Central Bank ◽  
International Monetary Fund ◽  
Government Expenditures ◽  
Second Line ◽  
Reserve Requirements ◽  
Bank Deposits ◽  
The Government ◽  
One Year ◽  
The International Monetary Fund

On June 7, 1960, it was announced that the government of Guatemala had entered into a one-year stand-by arrangement with the International Monetary Fund authorizing drawings up to $15 million in support of the country's currency. The purpose of the arrangement was to help Guatemala maintain the traditional stability of the quetzal by providing a second line of reserves to supplement other stabilization measures, such as an increase of reserve requirements against bank deposits, limitations on central bank rediscounts, and a further reduction of government expenditures. Guatemala, with a quota of $15 million, had not previously drawn upon the Fund's resources.

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