Regulatory Alerts2012-01-30
Decision No. 01-11-FGD-CD on the Internal Regulations of the Central African Deposit Guarantee Fund
The Central African Banking Commission's Board of Directors issued Decision No. 01-11-FGD-CD to establish the internal regulations governing the Central African Deposit Guarantee Fund (FOGADAC). The decision defines FOGADAC's sub-regional mandate, compensation procedures for depositors during credit institution unavailability, and the Board's organizational structure, voting thresholds, and oversight powers. It further details the Permanent Secretariat's operational duties, financial reporting obligations, and the specific timelines and mechanisms for preventive interventions and fund subrogation.
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