Regulatory Alerts2016-03-17
Added · Updated
Convention on the Operation of an Automated Interbank Clearing and Settlement System
The Central Bank of the Congo and authorized banks establish rules for an automated interbank clearing and settlement system, unifying national currency accounts into a single non-interest-bearing settlement account. The Convention mandates the use of digitized payment orders, defines operational sessions for clearing and refinancing, and outlines authentication and security protocols. It grants the Central Bank authority to impose financial penalties, suspend access, or permanently exclude participants for non-compliance or insolvency.
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