Regulation No. 0010/2015 on Interbank Operations by Credit Institutions

BANQUE CENTRALE DES COMORES

REGULATION No. 0010 /2015/BCC/DSBR

RELATING TO INTERBANK OPERATIONS CONDUCTED BY CREDIT INSTITUTIONS, IN APPLICATION OF LAW 13-003/AU

Having regard to Law 80-08 of June 26, 1980, relating to currency and the role of the Central Bank of the Comoros in the control of banks and financial establishments, credit, and foreign exchange, in its Article 7;

Having regard to Law 13-003/AU of June 12, 2013, regulating the activities of financial institutions, in its Article 103;

Having regard to Law 12-011/AU of June 28, 2012, regulating and organizing credit leasing;

THE GOVERNOR OF THE CENTRAL BANK OF THE COMOROS

Sets the rules relating to interbank operations conducted by credit institutions, in application of Law 13-003/AU.

Article 1.

This Regulation applies to interbank operations carried out between credit institutions as defined in Article 3 of Law No. 13-003/AU.

Article 2:

For the purposes of this Regulation, an "interbank operation" constitutes the following enumerated operations, among others, of deposits and all forms of financing with or without guarantees carried out between credit institutions authorized in the Union of the Comoros:

a) Interbank Current Account: The ordinary account opened with another credit institution; b) Term Deposit Account (DAT): The remunerated investment account, opened for a fixed duration of one month or more; c) Short-term Financing: Financing operations contracted between credit institutions with a duration of less than or equal to one year; d) Medium-term Financing: Financing operations contracted between credit institutions with a duration between one year and five years; e) Long-term Financing: Financing operations contracted between credit institutions with a duration of more than five years;

---

Article 3:

The following do not constitute interbank operations and are not taken into account in the declaration statement attached to this Regulation:

a) Deposits of credit institutions with the Central Bank; b) Refinancing by the Central Bank; c) Cash facilities, advances, and other financing granted by the parent company to its subsidiaries or a holding company; d) Cash facilities, advances, and other financing granted by the union of decentralized financial institutions to its affiliated primary caisses;

Article 4:

The interest rates applied to interbank operations are freely determined by negotiation between credit institutions and reference the discount rate of the Central Bank.

Article 5:

The interbank operations defined in Article 2 of this Regulation must be declared monthly, no later than the 20th of the month following the date of the account closing, in accordance with the model attached as an annex.

Article 6:

This Regulation enters into force as of its date of signature.

Moroni, January 28, 2015

Mzé Abdou Mohamed Chanfiou

---

INTERBANK OPERATIONS (in millions FC) Declaring Institution: Month:

	BIC	EXIM BANK	BFC	BDC	SNPSF	U-MECKS	U-SDK ANJ	UNION SDK MOHELI
INTERBANK OPERATIONS OF CREDIT INSTITUTIONS
INTERBANK DEPOSIT ACCOUNTS	Amount	Interest Rate	Periodicity	Amount	Interest Rate	Periodicity	Amount	Interest Rate
CURRENT ACCOUNT
Balance at start of period
Total debitor movements
Total creditor movements
Balance at end of period
TERM DEPOSIT ACCOUNT (1 to 12 months)
Balance at start of period
Total debitor movements
Total creditor movements
Balance at end of period
TERM DEPOSIT ACCOUNT (greater than 12 months)
Balance at start of period
Total debitor movements
Total creditor movements
Balance at end of period
Total Balance (Current Account and DAT at end of period)	0			0			0
INTERBANK FINANCING	Amount	Interest Rate	Periodicity	Amount	Interest Rate	Periodicity	Amount	Interest Rate
Short-term financing (< 1 year)
Total 1 (short-term financing)	0			0			0
Medium-term financing (1 to 5 years)
Total 2 (medium-term financing)	0			0			0
Long-term financing (> 5 years)
Total 3 (long-term financing)	0			0			0
Total Balance (1+2+3)	0			0			0

---

Month of Figures in millions FC

Beneficiaries of deposits and financing	BIC	EXIM	BFC	BDC	SNPSF	U-MECKS	U-SDK ANJ	U-SDK MOHELI	Subtotal Deposits (excl. BCC)	Subtotal Financing (excl. BCC)	Deposits received by BCC	Total Deposits incl. BCC	Total Financing incl. BCC
Initiators of deposits and financing	Total Balance Deposits	Financ.	Total Balance Deposits	Financ.	Total Balance Deposits	Financ.	Total Balance Deposits	Financ.	Total Balance Deposits	Financ.	Total Balance Deposits	Financ.	Total Balance Deposits
BIC
EXIM
BFC
BDC
SNPSF
U-MECKS
U-SDK ANJ
U-SDK MOHELI
Subtotal	0	0	0	0	0	0	0	0	0	0	0	0	0
BCC Refinancing
Total incl. BCC	0	0	0	0	0	0	0	0	0	0	0	0	0