Regulatory Alerts2020-02-01
Instruction on the Constitution of Mandatory Reserves for Credit Institutions in the 'Bank' Category
The Central Bank of the Republic of Guinea issued Instruction DGCC/DPMC/N°..08.., setting mandatory reserve requirements for credit institutions in the 'Bank' category. These institutions must maintain non-remunerated deposits with the Central Bank, calculated at a rate of sixteen percent (16%) on their Guinean franc and foreign currency deposits, with specific rules for calculation and reporting. Non-compliance incurs late payment interest, which increases for repeated failures, and this instruction replaces a previous one from October 24, 2005.
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