Regulatory Alerts2021-09-03
Law No. 2019-009 Governing Repurchase Operations on the Financial Market
The President of Madagascar promulgated Law No. 2019-009 to regulate repurchase operations on the financial market, establishing a comprehensive legal framework for their validity, enforceability, and execution. The legislation defines key terms, mandates the use of master agreements, and subjects monetary policy and interbank transactions to strict settlement, collateral, and accounting standards overseen by the Central Bank of Madagascar and the Banking and Financial Supervision Commission. It further grants the Public Treasury authority to conduct repo operations for cash management, outlines enforcement mechanisms including set-off and acceleration clauses, and provides for regulatory extensions to other financial operators.
Share