Liquid assets

(1) Subject to the provisions of sub-section (1) the Bank may by notice published in the Gazette vary the proportion which the average aggregate of approved liquid assets held by every bank or financial institution is required to bear to the deposit liabilities of such bank or financial institution under section 14 of the Domestic Banks and Financial Institutions Act, provided that such proportion shall not be more than thirty-five per cent. CAP. 263. (2) Subject to the provision of sub-section (3)(b) the Bank may also require a bank to maintain assets consisting of claims payable in the currency of Belize and other assets situate in Belize in such minimum proportion of its deposit liabilities as the Bank may from time to time prescribe. (3) Any increase in the proportion prescribed under sub- (a) shall be so effected as not to exceed five percentage points in any period of thirty days; and (b) shall not be required without at least thirty days’ notice to the banks or financial institutions concerned.