Regulatory Alerts2012-02-01
COBAC Regulation R-2009/03 on the Organization and Functioning of the Central African Deposit Guarantee Fund
Issued by the Central African Banking Commission (COBAC), this regulation establishes the operational framework, financial contribution rules, and compensation procedures for the Central African Deposit Guarantee Fund. It mandates credit institutions to pay annual contributions calculated on deposits and doubtful claims, sets a 5 million CFA franc reimbursement ceiling per beneficiary, and defines strict timelines for deposit unavailability confirmation and claim settlement. Furthermore, it empowers the Fund's Management Committee to conduct preventive interventions, adjust compensation ceilings based on reserve levels, and coordinate with BEAC and national authorities to ensure financial stability across CEMAC member states.
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