Regulatory Alerts2023-05-23
Instruction No. 004-DOM/23 of 23 May 2023 amending certain provisions of Instruction No. 005-DOM/2021 of 3 December 2021 implementing Law No. 2019-009 of 22 January 2020 governing repurchase operations
The Central Bank of Madagascar issued Instruction No. 004-DOM/23 to amend specific provisions of its December 2021 repurchase operations directive. The amendment establishes a tiered haircut schedule for eligible securities based on remaining maturity and introduces a new calculation formula for determining the value of securities placed in repurchase. It also mandates a late interest rate equal to the marginal lending facility rate plus five percentage points for any mutually agreed extensions of repurchase dates.
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