Regulatory Alerts2000-03-21
COBAC Regulation R-93/05 on the Coverage of Fixed Assets
The Central African Banking Commission mandates that credit institutions maintain a minimum 100% fixed asset coverage ratio between their net equity and permanent resources versus tangible fixed assets. The regulation requires monthly reporting to the General Secretariat, permits temporary derogations with corrective timeframes, and authorizes the Commission to issue injunctions and impose disciplinary sanctions for non-compliance or serious regulatory breaches. These provisions entered into force on 1 July 1993 and apply to all credit institutions established under the 16 October 1990 Convention.
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