Regulatory Alerts2017-12-19
Instruction No. 006-DOM/2017 Setting the Marginal Lending Facility Rate of Banky Foiben'i Madagasikara
Banky Foiben'i Madagasikara issued Instruction No. 006-DOM/2017 to set the marginal lending facility rate at two percentage points above its key interest rate. Operating under Article 14 of the December 2017 monetary policy implementation framework, this rate differential applies directly to central bank lending operations. The directive officially takes effect on January 1, 2018, following the Governor's formal authorization in Antananarivo.
[LOGO] BANKY FOIBEN'I MADAGASIKARA
DIRECTORATE OF MONETARY OPERATIONS
INSTRUCTION NO. 006-DOM/2017 setting the marginal lending facility rate of Banky Foiben'i Madagasikara
The Governor of Banky Foiben'i Madagasikara,
Having regard to Law No. 2016-004 of July 29, 2016, supplemented by Law No. 2016-057 of February 2, 2017 establishing the Statutes of the Central Bank of Madagascar,
Having regard to Decree No. 2014-1684 of October 29, 2014 appointing the Governor of the Central Bank of Madagascar,
Having regard to Instruction No. 005-DOM/2017 of December 19, 2017 on the implementation of Banky Foiben'i Madagasikara's (BFM) monetary policy instruments,
<u>DECIDES</u>:
<u>Article 1:</u>
Pursuant to Article 14, paragraph 14.1 of Instruction No. 005-DOM/2017 of December 19, 2017 on the implementation of Banky Foiben'i Madagasikara's (BFM) monetary policy instruments, the marginal lending facility rate shall be set at 2 percentage points above BFM's key interest rate.
<u>Article 2:</u>
This Instruction shall enter into force as of January 1, 2018.
Antananarivo, December 19, 2017
[SEAL] THE GOVERNOR ALAIN H. RASOLOFONDRAIBE
P.O. Box 550 Antananarivo (101) – Madagascar ■ Tel. (261) 20 22 217 51/ 20 22 234 65 ■ Fax (261) 20 22 345 32 E-mail: banque-centrale@bfm.mg ■ Website: www.banque-centrale.mg