Regulatory Alerts2026-01-01
Circular N01-26/BCC/DESM on Mandatory Reserve Coefficients and BCC Interest Rates
The Governor of the Central Bank of the Comoros issued a monetary policy decision establishing a 10% mandatory reserve maintenance rate and a 15 billion FC liquidity absorption ceiling. The directive sets specific interest rates for various operations, including a 2.5% limit for liquidity tenders and state advances, a 5.5% marginal lending facility rate, and an 8.5% penalty for reserve requirement non-compliance. This circular abrogates all prior contrary provisions and entered into force immediately upon its signature on January 9, 2026.
[Logo of the Central Bank of the Comoros]
Circular No...-2026/BCC/DESM .................... Regarding the mandatory reserve coefficient and the interest rates and parameters of BCC operations ....................
The Governor of the Central Bank of the Comoros,
- Having regard to the law establishing the statutes of the Central Bank of the Comoros (BCC),
- Having regard to the federal framework law No. 80-08 of May 3, 1980, relating to currency and the role of the BCC in the supervision of Banks and Financial Institutions;
- Having regard to the banking law No. 13-003/AU of June 12, 2013 and its associated regulations,
- Considering the resolution of the BCC Board of Directors of January 12, 2023,
- Considering the resolution of the Monetary Policy and Reserve Management Committee of the Central Bank, taken during its meeting of January 9, 2026,
Informs of new monetary policy decisions:
Article 1 – The mandatory reserve maintenance rate is set at 10%.
Article 2 – The liquidity absorption ceiling is set at 15 billion FC.
Article 3 – The BCC interest rates are fixed as follows:
- Limit rate for submission to Liquidity Tenders (TSAO)……………… 2.5% ;
- Rate for remuneration of advances to the State…………………………………………… 2.5% ;
- Rate for the marginal lending facility ………………………………………………… 5.5% ;
- Penalty for failure to meet the mandatory reserve requirement…………………………………………… 8.5% ;
- Rate for remuneration of Excess Reserves, Mandatory Reserves and Deposits of Banks and Financial Institutions not subject to mandatory reserves ……………………………………………… 0%.
Article 4 - This circular abrogates any prior contrary provision and enters into force upon its signature.
Moroni, January 9, 2026
[Seal and signature] The Governor Dr. Younoussa Imani
Place de France. BP 405 Moroni | (269) 773 18 14 - (269) 773 10 02 | secretariat@banque-comores.km | www.banque-comores.km