Regulatory Alerts2000-04-03
COBAC Regulation R-98/02 on the Accounting of Attached Receivables and Payables
The Commission Bancaire of Central Africa mandates that credit institutions identify and record accrued interest, lease payments, income, and expenses in dedicated attached receivables and payables accounts at each accounting closing, while excluding accrued interest on non-performing loans from these accounts. The regulation establishes a compliance framework empowering the Commission to issue injunctions and impose disciplinary sanctions for breaches, alongside repealing all conflicting prior provisions. It enters into force on July 1, 1999, for institutions in Cameroon and January 1, 2000, for those in the Central African Republic, Congo, Gabon, Equatorial Guinea, and Chad.
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