Pay out of former Pacific International Commercial Bank’s deposits and creditors
- Details
- Category: Press Release
- Created: 11 August 2016
The NRBT wishes to advise that we have re-commenced the pay out of claims by depositors and creditors of the former PICB. Payments may be collected from the NRBT according to the procedures advised in earlier notices.
Founga ki hono totongi atu ki he kau fakahu pa’anga (deposit) mo kinautolu ‘oku mo’ua ki ai (creditor) ‘a e Pangike Komesiale Fakavaha’apule’anga ‘o e Pasifiki (Pacific International Commercial Bank)
- Details
- Category: Press Release
- Created: 29 July 2016
Depositors and creditors of Pacific International Commercial Bank (PICB) are hereby advised to contact the office of the PICB located at the Loumaile Building in order to initiate the payout of your funds.
Economic Updates to the Members of Parliament
- Details
- Category: Press Release
- Created: 21 June 2016
The Governor of the National Reserve Bank of Tonga (NRBT), Dr. Sione Ngongo Kioa presented to the Members of Parliament (MPs) on 10th June, 2016 an update on the economy including the latest monetary and financial indicators. The monetary policy stance, policy actions by the NRBT and other issues were also discussed.
Pay out of Pacific International Commercial Bank’s deposits and creditors
- Details
- Category: Press Release
- Created: 29 July 2016
Depositors and creditors of Pacific International Commercial Bank (PICB) are hereby advised to contact the office of the PICB located at the Loumaile Building in order to initiate the payout of your funds.
Foreign Reserves rose by $7.8 million over May
- Details
- Category: Press Release
- Created: 16 June 2016
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $7.8 million over May 2016 to $330.7 million, equivalent to 9.3 months of imports. Official foreign reserves rose by $48.9 million over the past year.
Sound Banking System despite the revocation of PICB licence
- Details
- Category: Press Release
- Created: 28 July 2016
The National Reserve Bank of Tonga wishes to assure the public that despite the revocation of the banking licence of Pacific International Commercial Bank (PICB) effective from 26th July 2016, the banking system remains sound.
Reserve Bank Announces Changes to Exchange Control Policy Guidelines
- Details
- Category: Press Release
- Created: 13 June 2016
The Governor Dr Sione Ngongo Kioa announced that the Reserve Bank has completed its annual review of the Exchange Control Policy Guidelines which was approved by the Reserve Bank’s Board of Directors on 31st May 2016. The revisions were based on consultations with the Ministry of Revenue and Customs, banks and authorised foreign exchange dealers and other members of the public.
Revocation of Pacific International Commercial Bank’s License
- Details
- Category: Press Release
- Created: 27 July 2016
The National Reserve Bank of Tonga wishes to inform members of the public that the NRBT Board of Directors approved the revocation of Pacific International Commercial Bank’s (PICB) bank license with immediate effect commencing from 26th July 2016.
Reserve Bank imposes Minimum Loan to Deposit Ratio to encourage the utilization of the excess liquidity in the Banking System
- Details
- Category: Press Release
- Created: 10 June 2016
Effective on 1st July 2016 all banks must work towards progressively achieving a minimum loan/deposit ratio of 80% and a maximum loan to deposit ratio of 90% within 18 months of the effective date.
June recorded a $24.2 million rise in Foreign Reserves
- Details
- Category: Press Release
- Created: 12 July 2016
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $24.2 million over June 2016 to $354.9 million, equivalent to 10.1 months of imports. Official foreign reserves rose by $65.2 million over the past year.
Monetary Policy Statement for February 2016
- Details
- Category: Press Release
- Created: 31 May 2016
At its meeting today, the National Reserve Bank of Tonga (NRBT) Board approved the release of its Monetary Policy Statement (MPS) for February 2016. This Statement reviews Tonga’s economic growth and the NRBT’s conduct of monetary policy in the six months to February 2016. It also provides the NRBT’s outlook for the next six months.
2016