Regulatory Alerts2000-04-03
Added · Updated
COBAC Regulation R-98/03 on Accounting and Provisioning of Non-Performing Loans and Doubtful Signature Commitments
COBAC Regulation R-98/03 establishes the accounting and provisioning rules for non-performing loans and doubtful signature commitments for credit institutions in Central Africa. It defines non-performing loans as immobilized, unpaid, or doubtful claims, and mandates specific provisioning percentages for uncovered risks (25% in year one, 75% in year two) and covered risks (15%, 45%, 75% over three years). The regulation requires institutions to write off uncollectable claims, exclude interest from income accounts for doubtful loans, and adhere to strict reporting and compliance deadlines starting July 1, 1999, or January 1, 2000.
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