Regulatory Alerts2023-08-24
Instruction No. 38/2009 on the Approval of Guarantors for Public Savings Operations on the UMOA Regional Financial Market
The Regional Council for Public Savings and Financial Markets (CREPMF) issued Instruction No. 38/2009 to establish eligibility criteria, approval procedures, and ongoing compliance requirements for guarantors issuing guarantees in UMOA regional financial market public savings operations. The Instruction mandates that guarantors submit a comprehensive approval file, maintain specific equity-to-risk and liquidity ratios, and adhere to standardized accounting and risk concentration rules. It grants CREPMF supervisory powers to inspect, withdraw approval, or sanction non-compliant guarantors while providing a two-year transitional period for rating submissions.
Share