COMMISSION BANCAIRE DE L'AFRIQUE CENTRALE

COBAC REGULATION R-2013/02

AMENDING CERTAIN PROVISIONS OF COBAC REGULATION R-93/05 ON THE COVERAGE OF FIXED ASSETS

The Central African Banking Commission;

Having regard to the Convention of October 16, 1990 establishing a Central African Banking Commission, particularly Article 9, paragraph 1 of its Annex;

Having regard to the Convention of July 5, 1996 governing the Monetary Union of Central African States, particularly its Articles 31, 32, and 34;

Having regard to COBAC Regulation R-93/05 of April 19, 1993, as amended by COBAC Regulation R-2001/06 of May 7, 2001, on the coverage of fixed assets;

DECIDES:

Article 1 - Article 3 of COBAC Regulation R-93/05 of April 19, 1993, as amended by COBAC Regulation R-2001/06 of May 7, 2001, on the coverage of fixed assets, is amended as follows:

« Article 3 (new): The fixed assets retained in the denominator are net of depreciation and provisions. These are fixed assets in operation or leased, other tangible fixed assets (with the exception of fixed assets intended to be sold), equity stakes (with the exception of stakes in credit institutions already deducted from own funds), and all other securities held by the institution (with the exception of transaction and placement securities). »

The amount of investment securities is reduced by the drawing powers determined from the portfolio of negotiable securities admitted as collateral for refinancing by the Bank of Central African States (BEAC) and recorded in the accounting of the credit institution as investment securities.

Article 2 - This regulation, which enters into force as of the date of its adoption, shall be notified to the Monetary Authorities, to all credit institutions subject to the regulation, and to the Professional Associations of credit institutions.

Article 3 - The Secretary General of the Central African Banking Commission is charged with the execution of this Regulation.

Thus decided and made in Libreville on December 19, 2013, in the presence of:

Mr. Lucas ABAGA NCHAMA, President; Mrs. Louise Antoinette NGOZO KIRIMAT, Messrs. BECHIR DAVE, Jean-Claude NGAMBOU, Henri MOUICHE NJINDOU, Jean-Paul CAILLOT, Louis ALEKA-RYBERT, Régis MOUKOUTOU, Salomon MEKE, Sylvestre MANSIELE BIKENE, Jildas NGONKOUA ABOULI, Jean Célestin MENOUNGA, and Anselme IMBERT, members.

For the Central African Banking Commission,

President,

Lucas ABAGA NCHAMA