Circular No. 001/2018-CSBF on the Conditions for Tele-declaration of Periodic Statements by Credit Institutions

CENTRAL BANK OF MADAGASCAR BANKING AND FINANCIAL SUPERVISION COMMISSION

CIRCULAR NO. 001/2018-CSBF SETTING THE CONDITIONS FOR TELE-DECLARATION OF PERIODIC STATEMENTS BY CREDIT INSTITUTIONS

The President of the Banking and Financial Supervision Commission (CSBF),

Having regard to the provisions of Articles 41, 42 and 43 of Law No. 95-030 of February 22, 1996 concerning the activity and supervision of credit institutions,

Pursuant to Instruction No. 002/05-CSBF of June 1, 2005 concerning the conditions for periodic and annual closing, the publication of accounting documents of credit institutions, and Instruction No. 001/08-CSBF of November 14, 2008 concerning the financial transparency of microfinance institutions,

Sets the procedures and deadlines for transmitting periodic financial statements as follows:

Article 1:

Effective for declarations as of end-June 2018, credit institutions are required to:

a. Submit periodic reporting statements electronically via the secure tele-declaration system managed by the CSBF General Secretariat, using pre-established templates, as provided for in Instructions No. 002/05-CSBF of June 1, 2005 and No. 001/08-CSBF of November 14, 2008;

b. Comply with the User Guide made available by the CSBF General Secretariat, particularly regarding access and operation procedures for the tele-declaration system and the electronic formats accepted for tele-declaration;

c. Take necessary measures and precautions to ensure the confidentiality of transmitted data and identification information related to access to the aforementioned system, including notifying the CSBF General Secretariat of any user changes within the credit institution;

d. Transmit periodic reporting statements no later than 15 days following the closing date for banks and financial institutions, and within the deadlines prescribed by the aforementioned Instruction No. 001/08-CSBF for microfinance institutions (MFIs);

e. Submit a reasoned request to the CSBF General Secretariat via the system in case of transmission beyond the aforementioned deadlines.

Article 2:

Pursuant to Article 42, paragraph 2 of the aforementioned Law No. 95-030, the CSBF General Secretariat is authorized to request, including via the tele-declaration system, any information or document deemed useful.

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Article 3:

This Circular repeals the provisions set forth in Circular No. 001/05-CSBF of August 18, 2005, and takes effect upon its signature.

Done at Antananarivo, on June 27, 2018 For the Banking and Financial Supervision Commission, The President,

(Signature)

Alain H. RASOLOFONDRAIBE Governor of the Central Bank of Madagascar

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