Regulatory Alerts2020-08-13
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BCEAO Advisory No. 010-08-2020 on the Modification of the Prudential Framework for Credit Institutions and Financial Companies in UMOA
The Central Bank of West African States (BCEAO) issued Advisory No. 010-08-2020 to extend by one year the implementation schedule for transitional prudential requirements applicable to credit institutions and financial companies in the UMOA. This extension maintains Title X (paragraphs 495–504) of the June 2016 prudential framework for 2020 and shifts all subsequent compliance deadlines by twelve months to support regional economies amid the Covid-19 pandemic. The advisory formally notifies all affected institutions of these regulatory adjustments and mandates their publication throughout the union.
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