Regulatory Alerts2015-02-03
Regulation 007/2015 on Mandatory Reserves for Financial Institutions Receiving Public Funds
The Central Bank of the Comoros issued Regulation 007/2015 to establish the calculation rules and requirements for mandatory reserves held by financial institutions receiving public funds. The regulation defines the deposit base for calculations, mandates monthly reserve contributions, and specifies the timeline for reserve composition periods. It further outlines penalties for non-compliance, including the suspension of interest on reserves and monetary sanctions for insufficient or inaccurate reporting.
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