Regulatory Alerts2006-10-13
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INSTRUCTION N° 002/2006-CSBF on Counterparty Risk Provisioning Rules for Credit Institutions
Instruction N° 002/2006 establishes the rules for classifying doubtful, disputed, or contentious claims and provisioning counterparty risks for credit institutions in Madagascar. It mandates that provisions be calculated based on real recovery value, applying specific provisioning quotas for overdue overdrafts and discounting the value of collateral over time. The instruction requires credit institutions to submit lists of written-off claims exceeding 20 million ariary to the CSBF General Secretariat and replaces previous contradictory provisions, entering into force on December 31, 2006.
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