Instruction Fixing the BCRG Key Rate

11 APR 2016
Conakry, the ........................................

REPUBLIC OF GUINEA

CENTRAL BANK

INSTRUCTION NO. 061/DGCC/DPMC/2016
FIXING THE BCRG KEY RATE

The Governor of the Central Bank,

Having regard to Law L/2014/016/AN of 2 July 2014 establishing the Statute of the Central Bank of the Republic of Guinea (BCRG); Having regard to Law L/2013/060/AN of 12 August 2013 on Banking Regulation; Having regard to Decree No. D/2010/PRG/SGG of 27 December 2010 appointing the Governor; Having regard to Instruction No. 039/DGCC/DPMC/2015 of 25 February 2015 fixing the BCRG key rate.

DECIDES

Article 1: The Key Rate (KR) of the Central Bank of the Republic of Guinea is set at twelve point fifty percent (12.50%).

Article 3: The Overnight Repo Rate (TPO) is set at sixteen point fifty percent (16.50%), and the hierarchy of rates determined based on the Overnight Repo Rate (TPO) is as follows:

Exceptional overdraft rate at the BCRG	TPO + 10
Penalty rate for non-compliance with reserve requirements	TPO + 8
Rate for liquidity injection operations exceeding one day	Market rate
Rate for seven (7)-day deposits at the BCRG	TRM rate
Maximum lending rate in commercial banks	Free
Money market rate	Free
Minimum deposit rate on time accounts	Free
Minimum deposit rate on savings passbook accounts	Free

Article 4: Banks are required to report their various rates monthly to the Central Bank and display them for the public.

Article 5: This Instruction, effective as of its signature date, repeals all prior contrary provisions, notably Instruction No. 039/DGCC/DPMC/2015 of 25 February 2015, and shall be published wherever necessary.

[Stamp and signature]
Dr. Louncény NABE

P.O. Box No. 692 - Conakry - Telephone: (+224) 30 41 26 51 - Telefax: (+224) 30 41 48 98 - Telex: 22 225 BAREG - GE