Regulatory Alerts2004-07-28
INSTRUCTION No. 05-CR/04 of July 28, 2004 on the Declaration of Banking Risks
Governor Gaston Ravelojaona issued Instruction No. 05-CR/04 on July 28, 2004, requiring all credit institutions to report the local currency equivalent of foreign currency credit exposures in monthly declaration annexes starting from end-August 2004. The directive mandates that these exposures be broken down by file, term, and beneficiary, and calculated using the prevailing exchange rate on each declaration's statement date. This standardized reporting framework ensures accurate currency valuation and consistent risk monitoring across the banking sector.
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