Key Longer-Run Changes in the Economy Three related features of the economy’s new normal called for the reassessment of the Committee’s longer-run goals and strategy. 2 First, the equilibrium interest rate has fallen to low levels, which implies a large decline in how much we can cut interest rates to support the economy.
Among others, the amendments; (i)  empower SBP to introduce flexibility and broadening of Microfinance Institutions to include Microfinance Banks,  (ii)  give SBP flexibility in the determination of CRR and SLR with a flexible monitoring system,  (iii)  provide SBP the option of determining the definition/threshold income level of the poor,  (iv)  strengthen provisions to introduce explicit clauses regarding licensing of new MFIs, separate licensing requirements for existing NGO-MFIs, new start-up MFBs as well as improving provisions related to suspension of licenses,  (v)  bring in line with SECP guidelines on corporate governance, the terms of external auditors and extending period of submission of accounts, and  (vi)  strengthen regulatory powers of SBP.