Regulatory Alerts2023-05-16
Circular No. 001/2023-CSBF of May 12, 2023 Establishing the Procedures for Declaring the Regulatory Capital of Credit Institutions
The Banking and Financial Supervision Commission (CSBF) of Madagascar issued Circular No. 001/2023-CSBF to mandate the procedures and standardized templates for credit institutions to declare their regulatory capital. The directive requires institutions to submit an annual declaration by June 30 and special declarations within 15 days following capital changes, 10% or greater capital fluctuations, or interim deficits, all transmitted via the BSA tele-declaration system. It further specifies that annual declarations must accompany certified year-end accounting documents, while special declarations must be filed with periodic financial statements or at each closing date recording interim deficits.
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