COMMISSION BANCAIRE

OF CENTRAL AFRICA

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COBAC REGULATION R-99/01 ESTABLISHING PROCEDURES FOR UPDATING THE CHART OF ACCOUNTS FOR CREDIT INSTITUTIONS

The Banking Commission of Central Africa, meeting on December 2, 1999,

Having regard to the Convention of October 16, 1990 establishing a Banking Commission of Central Africa,

Having regard to Articles 1, 9, and 21 of the Annex to the Convention of October 16, 1990,

Having regard to the Convention of January 17, 1992 on the harmonization of banking regulation in the States of Central Africa,

Having regard to Articles 32 and 36 of the Annex to the Convention of January 17, 1992,

Having regard to COBAC Regulation R-98/01 relating to the Chart of Accounts for Credit Institutions,

DECIDES

Article 1 – The President of the Banking Commission is authorized to issue, if necessary after consulting the relevant Authorities, instructions modifying the wording or content of sub-accounts in the chart of accounts for credit institutions or creating such accounts.

Article 2 – The Secretary General of the Banking Commission is authorized:

a) by means of "PCEC letters" to provide clarification on the content of any account or on the implementation modalities of any principle contained in the chart of accounts for credit institutions and to make corrections to errors or omissions in the PCEC as well as minor modifications that may extend to the creation of sub-accounts or the reformulation of their content;

b) by means of "CERBER letters" to make corrections to errors or omissions in the Collection, Operation, and Restitution to Banks and Financial Institutions of Regulatory States collection manual and to implement modifications resulting from acts of the Banking Commission or its President that have the effect of completing or modifying the chart of accounts for credit institutions.

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Article 3 – Modifications to the chart of accounts for credit institutions that do not fall within the scope of the authorizations mentioned in Articles 1 and 2 above shall be subject to regulations of the Banking Commission.

Article 4 – This Regulation shall enter into force as of the date of its notification to the Ministers in charge of currency and credit, to all credit institutions authorized in the States of Central Africa, and to their Professional Associations by the Secretary General of the Banking Commission of Central Africa.

Done and decided in Yaoundé on December 2, 1999, with the following members present:

Mr. Jean-Félix MAMALEPOT, President; Messrs. ABAKAR MALAH MOUSSA, Dominique BOCQUET, Ricardo ELO MABALE, Patrice ENDJINGBOMA, Aaron KALTJOB, Pierre LENFANT, Joseph MOUTOU KANGO, Ludovic OGNAGNA, Daniel ONA ONDO, and François-Xavier ZINGA, members.

For the Banking Commission of Central Africa,
The President,

Jean-Félix MAMALEPOT