Regulatory Alerts2020-04-30
BCEAO Advisory No. 007-04-2020 on Access of B-Listed Private Claims to Central Bank Refinancing
The BCEAO issued Advisory No. 007-04-2020 to permit credit institutions to use claims on B-listed private enterprises as collateral for Central Bank refinancing, provided these claims carry a UMOA member state guarantee or benefit from a UMOA financial support scheme. Credit institutions must submit applications to register the instruments representing these claims on the official list of eligible refinancing collateral. This measure expands upon the March 2020 revision that previously admitted A-listed enterprise instruments, thereby broadening access to central bank liquidity for non-financial enterprises.
[Logo BCEAO]
The Governor
ADVISORY NO. 007 - 04 - 2020 ON THE ACCESS OF B-LISTED PRIVATE CLAIMS TO BCEAO REFINANCING
By Advisory No. 001 - 03 - 2020 dated March 25, 2020, the Central Bank revised the implementation procedures for the rating agreements scheme for non-financial enterprises, by accepting at its refinancing counters the instruments of A-listed enterprises.
This Advisory informs credit institutions that claims on B-listed private enterprises may now be admitted as collateral for Central Bank refinancing, provided they benefit from a guarantee by a member state of the UMOA or are supported by a financial assistance scheme of a UMOA member state.
Credit institutions may submit to the Central Bank an application for the registration of instruments representing the relevant claims on the list of collateral eligible for refinancing.
Done in Dakar, April 30, 2020
[Signature]
Tiémoko Meyliet KONE
Avenue Abdoulaye FADIGA BP 3108 Dakar - Senegal Tel.: (221) 33 839 05 00 / Fax: (221) 33 823 93 35 courrier.bceao@bceao.int - www.bceao.int