On the Representation of Minimum Capital for Credit Institutions

CENTRAL BANK OF DJIBOUTI

INSTRUCTION NO. 2011-02 ON THE REPRESENTATION OF MINIMUM CAPITAL FOR CREDIT INSTITUTIONS

The Governor of the Central Bank of Djibouti,

Having regard to Law No. 118/AN/11/6ème L of 22 January 2011 amending the statutes of the Central Bank of Djibouti;

Having regard to Law No. 119/AN/11/6ème L of 22 January 2011 on the establishment and supervision of credit institutions and financial auxiliaries;

Having regard to Decree No. 2011-010/PRE of 24 January 2011 appointing the Governor of the Central Bank of Djibouti.

Hereby orders:

Article 1: Minimum Capital Representation Rule

Credit institutions referred to in Article 3 of Law No. 119/AN/11/6ème L of 22 January 2011 cited above are permanently required to ensure that their adjusted net assets, as defined in Article 2 of this Instruction, exceed their liabilities to third parties, as defined in Article 3 of this Instruction, by an amount at least equal to the minimum capital to which they are subject under Article 14 of the aforementioned Law.

Article 2: Definition of Adjusted Net Assets

Adjusted net assets is the amount of net assets after depreciation and provisions, from which the following items are deducted:

— unprovisioned doubtful debts; — net intangible assets; — other valueless assets.

Article 3: Definition of Liabilities Owed to Third Parties

1. Liabilities owed to third parties consist of all obligations of the credit institution, regardless of maturity, excluding capital and debts with the nature of permanent resources, which are only payable after the repayment of all other creditors.

2. It thus consists of the following items:

• balance of the debit account at the Central Bank of Djibouti;
• balance of deposits from financial institutions;
• customer deposits, cash certificates, and other customer resources;
• various credit accounts;
• other payable debts.

Article 4: Submission of Form No. 2011-02

1. Credit institutions shall prepare the form attached to this Instruction on a quarterly basis.

2. This form shall be submitted to the Central Bank of Djibouti no later than the 20th day of the month following the reporting date. If that day falls on a holiday, the form must be submitted no later than the first following business day.

3. The form attached to this Instruction must be submitted to the Central Bank of Djibouti both as a signed paper document, signed by one of the responsible executives of the credit institution, and as an Excel file sent via email, in accordance with the procedures set forth in the Central Bank of Djibouti circular regarding the preparation and submission of accounting and prudential reports.

Article 5: Possibility of Waiver Granted by the Central Bank of Djibouti

The Central Bank of Djibouti may authorize an institution to temporarily derogate from the provisions of this Instruction. In such cases, it shall set a maximum deadline for the institution to regularize its situation.

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Article 6: Entry into Force of the Instruction

This Instruction of the Central Bank of Djibouti shall take effect on its date of publication.

Article 7: Repeal of Instruction No. 3/BND/96

Instruction No. 3/BND/96 of the Central Bank of Djibouti on the representation of minimum capital for credit institutions is hereby repealed.

Done in Djibouti, on 15 December 2011

The Governor

[Stamp: CENTRAL BANK OF DJIBOUTI - The Governor - REPUBLIC OF DJIBOUTI]

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CENTRAL BANK OF DJIBOUTI

INSTRUCTION NO. 2011-02 ON THE REPRESENTATION OF MINIMUM CAPITAL

Name of Credit Institution: ....................................................................... Bank Code: ....................................................................... Reporting Date: .......................................................................

Characteristics of Submission	Part to be completed by the institution	Part reserved for the Central Bank of Djibouti
Name of institution
Name of form signatory
Signatory's functions
Reporting date of form
Form version number
• 1st version
• Corrected version
Date of form signature
Date of receipt
Existence of file submission
Date and format of file submission	Email of

CENTRAL BANK OF DJIBOUTI

INSTRUCTION NO. 2011-02 ON THE REPRESENTATION OF MINIMUM CAPITAL

Name of Credit Institution: ....................................................................... Bank Code: ....................................................................... Reporting Date: .......................................................................

(In Millions of DJF)

Account code		T	T-1
50080	1 - ADJUSTED NET ASSETS [A] Total net assets:	0	0
20090 40060 50030 50060 40080	Less: • Unprovisioned doubtful debts • Net intangible assets • Carried forward • Losses • Other valueless assets	0	0
11020 11100 11150 21000 21080 31060 31080	2 - LIABILITIES OWED TO THIRD PARTIES [B] Central Bank of Djibouti Credit institutions Other financial institutions Customer deposits Other customer resources Various credit accounts Other term liabilities	0	0
	CAPITAL REPRESENTATION [A] - [B]	0	0
	REQUIRED MINIMUM CAPITAL [C]
	SURPLUS OR SHORTFALL [A] - [B] - [C]	0	0

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