Regulatory Alerts2019-10-25
Instruction No. 006-DOM/19 on Money Market Instruments
The Central Bank of Madagascar issued Instruction No. 006-DOM/19 to establish the operational framework and procedures for implementing its money market instruments. The directive defines eligible participants, collateral requirements, and detailed bidding mechanisms for main, fine-tuning, longer-term, and fixed-rate liquidity operations, alongside standing facilities that form the interest rate corridor. It standardizes tender processes, settlement rules, and result dissemination while repealing conflicting prior instructions to ensure consistent monetary policy execution.
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