Regulatory Alerts2009-02-13
COBAC Circular LC-COB/014 on the New CERBER Reporting Requirements
The Central African Banking Commission (COBAC) issued Circular LC-COB/014 to address implementation challenges of Instruction I-2008/01 by granting credit institutions a transitional reporting period for January and February 2009. Institutions may submit these early reports under the previous I-99/01 specifications while simultaneously preparing them under the new rules to facilitate error correction. Starting from late March 2009, all submissions must strictly adhere to the new specifications and validation deadlines, with late-fee penalties applicable from 28 February for January submissions and 15 April for March submissions.
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