COBAC Regulation R-94/01 Amending Article 2 of Regulation R-93/06 on Credit Institution Liquidity

COMMISSION BANCAIRE DE L’AFRIQUE CENTRALE
COBAC REGULATION R-94/01 AMENDING THE PROVISIONS OF ARTICLE 2 OF COBAC REGULATION R-93/06 ON THE LIQUIDITY OF CREDIT INSTITUTIONS

The Central African Banking Commission, convened on November 18, 1994, Having regard to the Convention of October 16, 1990 establishing a Central African Banking Commission; Having regard to the annex to the Convention of October 16, 1990, particularly Article 13 thereof; Having regard to COBAC Regulation R-93/06 on the liquidity of credit institutions; DECIDES

Article 1. The provisions of Article 2(3) of the aforementioned COBAC Regulation R-93/06 are amended as follows:
INSTEAD OF:
“The effective drawing facilities with the Central Bank, net of realized mobilizations. These facilities, which cover mobilizable private instruments, are determined from the portfolio deposited as collateral with the BEAC, within the limit of the global rating guaranteeing short-term credit. Exceptionally, when a credit institution is clearly unable to maintain its drawing facilities by renewing during the following month the instruments deposited with the BEAC, the amount of corresponding advances shall be deducted from the drawing facilities; accordingly, these may become negative and, to that extent, be included in the denominator of the liquidity ratio, as defined in Article 3 of this Regulation;”

TO READ:
“The drawing facilities with the Central Bank, net of realized mobilizations. These facilities, which cover mobilizable private instruments, are determined from the portfolio deposited as collateral with the BEAC, exceptionally,… (the remainder unchanged).

Article 2. This Regulation, which takes effect as of the date of signature, shall be notified by the Secretary General of the Central African Banking Commission to the Ministers responsible for Finance and Credit, to all credit institutions authorized in the States of Central Africa, as well as to the professional associations formed among these institutions.
Done in Yaoundé on December 16, 1994
For the Central African Banking Commission,
The President,
Jean-Félix MAMALEPOT