Regulatory Alerts2016-11-15
BCEAO Instruction No. 024-11-2016 on Attribute Definitions
The Governor of the Central Bank of West African States (BCEAO) mandates that credit institutions and banking financial establishments in the UMOA must implement specific attribute definitions within their information systems to identify operations and economic agents. This instruction, effective January 1, 2018, supersedes previous regulations and requires the classification of assets, liabilities, and off-balance sheet items according to detailed criteria regarding residence and economic agent categories. It establishes a standardized framework for reporting by defining attributes such as country of residence, economic agent type, and specific institutional classifications.
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