Regulatory Alerts2024-02-07
Instruction No. 003-DOM/24 Amending and Complementing Certain Provisions of Instruction No. 006-DOM/19 of 25 October 2019 on Money Market Instruments
The Central Bank of Madagascar issued Instruction No. 003-DOM/24 to amend and supplement Articles 5, 6, 7, and 11 of its October 2019 money market instruments framework. The revised provisions standardize weekly main liquidity injection and withdrawal operations with a seven-day maturity, introduce non-standardized fine-tuning operations for maturities of one to six days, and establish longer-term operations exceeding seven days. Additionally, the instruction updates tender procedures by mandating written communication of announcements, capping bids at five per participant, specifying submission deadlines for standard and rapid tenders, and detailing result dissemination requirements.
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