Bank Circular No. 2020-10 of April 17, 2020

CIRCULAR TO BANKS
No. 2020-10 of April 17, 2020
SUBJECT: Implementation of monetary policy by the Central Bank of Tunisia.

The Governor of the Central Bank of Tunisia,
Having regard to Law No. 2016-35 of April 25, 2016, establishing the status of the Central Bank of Tunisia and in particular its Articles 10 and 63, Having regard to Law No. 2016-48 of July 11, 2016, concerning banks and financial institutions, Having regard to Circular No. 87-47 of December 23, 1987 concerning the procedures for granting, monitoring and refinancing of credits, as amended and supplemented by subsequent texts; Having regard to Circular No. 91-24 of December 17, 1991 concerning the classification, risk coverage and monitoring of commitments, as amended and supplemented by subsequent texts, Having regard to Circular No. 2017-02 of March 10, 2017 concerning the implementation of the monetary policy of the Central Bank of Tunisia, as amended by Circular No. 2018-08 of October 5, 2018, Having regard to the resolution of the Board of Directors dated April 10, 2020, Having regard to the opinion of the compliance control committee No. 2020-10 dated April 15, 2020,

Decides:
Article 1 - An Article 17 bis is added to Circular No. 2017-02 of March 10, 2017, concerning the implementation of the monetary policy of the Central Bank of Tunisia, as follows:

Article 17 bis - Eligible assets in exceptional circumstances:
In exceptional circumstances, the Central Bank of Tunisia may admit, as collateral for refinancing operations, negotiable and non-negotiable assets that do not meet the eligibility criteria set out in Articles 16 and 17 of this Circular and Articles 51 and 52 of its Annex II. The definition of exceptional circumstances and eligible assets will be published on the CAER system and the website of the Central Bank of Tunisia.

Article 2 - This Circular shall enter into force as from the date of its publication.

THE GOVERNOR,
MAROUENE EL ABASSI