Regulatory Alerts2016-11-15
Instruction No. 031-11-2016 on the Accounting of Syndicated Operations
The Governor of the Central Bank of West African States (BCEAO) issued Instruction No. 031-11-2016 to standardize the accounting treatment of syndicated operations for all subject financial institutions under the Revised WAMU Bank Accounting Plan. The directive mandates that lead banks, participants, and sub-participants record their respective funded shares and risk exposures off-balance sheet according to their specific roles, while establishing precise debit and credit entries for fund calls, advance funding, and guarantee commitments. Effective January 1, 2018, this Instruction supersedes all prior regulatory provisions on the matter and governs the financial reporting of jointly granted loans and financing commitments across the union.