Regulatory Alerts2000-03-21
COBAC Regulation R-93/10 Setting the Rules for Minimum Capital Representation of Credit Institutions
The Central African Banking Commission issued Regulation R-93/10 to mandate that all credit institutions and their foreign branches permanently maintain net internal liabilities at or above the statutory minimum capital threshold set by public decree. The regulation defines internal liabilities as paid-up capital, restricted reserves, and assimilable resources, explicitly deducting non-performing items including unpaid capital, treasury shares, brought-forward deficits, pending losses, establishment costs, goodwill, and supplementary provisions. Effective upon signature on 19 April 1993, the rule requires continuous compliance verification and grants the Banking Commission prior approval authority to accept alternative resources meeting specific repayment clauses.