Instruction No. 001-DCR/2015 on the Mandatory Reserve System

The Governor of the Central Bank of Madagascar issued Instruction No. 001-DCR/2015 to reduce the mandatory reserve ratio for territorial banks from 15% to 13%. The directive preserves the current calculation base and other non-conflicting provisions, applying to reserves established effective October 1, 2015. Grounded in the Central Bank's statutes and credit institution supervision laws, this measure ensures immediate regulatory alignment without altering existing operational frameworks.

INSTRUCTION NO. 001-DCR/2015 on the Mandatory Reserve System

The Governor of the Central Bank of Madagascar, Having regard to amended Law No. 94-004 of June 10, 1994 establishing the statutes of the Central Bank of Madagascar, Having regard to amended Law No. 95-030 of February 22, 1996 on the activity and supervision of credit institutions, Having regard to Decree No. 2014-1684 of October 29, 2014 appointing the Governor of the Central Bank of Madagascar, HAS DECIDED:

Article 1:
The Central Bank has decided to reduce the mandatory reserve ratio for territorial banks from 15% to 13%. The calculation base for mandatory reserves, as well as other provisions not contrary to this instruction, remain unchanged.

Article 2:
This instruction applies to reserves to be established effective October 1, 2015.

Antananarivo, September 29, 2015
Alain H. RASOLOFONDRAIBE
Governor.

Instruction No. 001-DCR/2015 on the Mandatory Reserve System

Lineage: In force