Regulatory Alerts2011-03-18
Instruction No. 003/03/2011 on the Transmission of Information Related to Banking Conditions in WAEMU
The Governor of the Central Bank of West African States (BCEAO) has issued Instruction No. 003/03/2011 to mandate credit institutions, microfinance entities, and postal financial services to report their debtor/creditor rates, time deposit remuneration limits, and contractual savings conditions to the Central Bank, the WAEMU Banking Commission, consumer associations, and relevant observatories. The directive specifies that institutions must notify immediate rate changes with old/new reference rates, maximum debtor rates, and modification dates, while requiring semi-annual submissions of comprehensive rate data by the 5th day of the following month. This Instruction supersedes all prior related provisions, takes effect upon signing on March 18, 2011, and ensures standardized monitoring of banking conditions across the WAEMU region.