Dysfunctional Banks to Face Higher Reserve Requirement

The Money and Credit Council, the top monetary and banking decision-making body, set a higher ceiling for the legal reserve requirement of banks.  
According to a press release published by the IRIB news, the reserve requirement of lenders with the Central Bank of Iran can be increased to 15% from the maximum 13% in the past. 
The MCC decision gives the central bank the go-ahead to increase the legal reserve requirement of unhealthy banks to 15%.