Regulatory Alerts2020-11-25
Instruction No. 009-DOM/20 of November 25, 2020, amending certain provisions of Instruction No. 009-DOM/19 of October 25, 2019, relating to the mandatory reserve system
The Governor of the Central Bank of Madagascar issued Instruction No. 009-DOM/20 to amend Articles 1, 2, and 3 of the October 2019 mandatory reserve system directive. The revised provisions mandate that credit institutions submit reserve declarations to the Central Bank by deadlines set in an annually published schedule, with reserves calculated on liability bases finalized two months prior (m-2). The updated annual submission calendar, detailing period dates, reference dates, and declaration deadlines, must be shared with the Professional Association of Banks and published on the Central Bank’s website by the first business day of December for the following year, with the instruction taking effect on January 1, 2021.
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