Regulatory Alerts2012-01-30
Decision No. 01-11-FGD-CD on the Internal Regulations of the Central African Deposit Guarantee Fund
The Central African Banking Commission's Management Committee issued Decision No. 01-11-FGD-CD to codify the internal regulations governing the Central African Deposit Guarantee Fund (FOGADAC). The decision establishes the fund’s sub-regional mandate to compensate savers during credit institution deposit unavailability, delineates the Management Committee’s deliberative powers and tiered voting thresholds, and assigns operational oversight to a Permanent Secretariat. It further prescribes the exact procedures for triggering interventions, calculating institutional contributions, processing verified claims, and executing preventive or curative compensations to maintain financial stability across CEMAC member states.
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