QCB Assesses Resilience of Financial Sector and Announces Pre-emptive Support Measures

March 30 (Reuters) - QATAR CENTRAL BANK :

• ASSESSES RESILIENCE OF FINANCIAL SECTOR AND ANNOUNCES PRE-EMPTIVE SUPPORT MEASURES

• QCB - LIQUIDITY CONTINUES TO BE STRONG

• QATAR CENTRAL BANK - QCB WILL OFFER AN UNLIMITED AMOUNT OF QATARI RIYAL (QAR) REPURCHASE (REPO) FACILITIES AGAINST ELIGIBLE SECURITIES HELD BY BANKS

• QCB - NEW TERM REPO FACILITY WILL ENABLE BANKS TO MANAGE CASH FLOW WITH GREATER CERTAINTY DURING THE CURRENT PERIOD

• QATAR CENTRAL BANK - QCB WILL REDUCE THE RESERVE REQUIREMENT ON DEPOSITS FROM 4.5% TO 3.5%

• QCB - WILL PERMIT BANKS TO OFFER BORROWERS AFFECTED BY CURRENT CIRCUMSTANCES THE OPTION TO DEFER LOAN PRINCIPAL AND INTEREST PAYMENTS FOR A PERIOD OF UP TO 3 MONTHS

• QCB WILL CONTINUE TO MONITOR GLOBAL, REGIONAL, AND DOMESTIC DEVELOPMENTS CLOSELY AND WILL CONTINUE TO ACT IN A TIMELY AND PRUDENT MANNER