The Monetary Policy Committee of the Central Bank of Trinidad and Tobago (MPC) held a special meeting on July 19, 2024. The MPC examined the recent decline in excess reserves of commercial banks—the deposits held by banks at the Central Bank in excess of the required reserve ratio of 14 per cent of prescribed liabilities. The daily average of excess reserves measured $2,766 million from July 1 to July 18, 2024 compared to $3,914 million in June 2024.