Regulatory Alerts2012-02-01
COBAC Regulation R-2009/03 on the Organization and Operation of the Central African Deposit Guarantee Fund
The Central African Banking Commission (COBAC) issued Regulation R-2009/03 to establish the organizational framework, financial resources, and operational procedures for the Central African Deposit Guarantee Fund. The regulation mandates annual contributions from credit institutions based on deposit volumes and defines a maximum indemnification ceiling of 5 million CFA francs per beneficiary per institution. It further outlines the specific procedures for declaring deposit unavailability, calculating payouts, and executing preventive interventions to safeguard financial stability within the CEMAC region.
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