RegAlert
2017-12-19

Added · Updated

Instruction No. 005-DOM/2017 on the Implementation of Monetary Policy Instruments of Banky Foiben'i Madagasikara

The Central Bank of Madagascar (Banky Foiben'i Madagasikara) issues this instruction to establish the operational framework and procedures for implementing its monetary policy instruments, including main, fine-tuning, and longer-term liquidity operations, as well as standing facilities and mandatory reserve requirements. The directive defines eligible participants, collateral standards, tender mechanisms, and rate-setting authorities while mandating transparent bidding processes and strict compliance timelines for reserve declarations. It also outlines penalty structures for reserve shortfalls, establishes the policy rate as the minimum rate for main injection operations, and repeals prior conflicting instructions effective January 1, 2018.

Banky Foiben'i Madagasikara logo

Madagascar

Banky Foiben'i Madagasikara

Scan of the document's first page
Share

Get BFM alerts — same-day email on every new publication.

[LOGO: BANKY FOIBEN'I MADAGASIKARA]

MONETARY OPERATIONS DIRECTORATE

INSTRUCTION NO. 005-DOM/17
on the Implementation of Monetary Policy Instruments of Banky Foiben’i Madagasikara

The Governor of Banky Foiben’i Madagasikara,

Having regard to Law No. 2016-004 of July 29, 2016, supplemented by Law No. 2016-057 of February 2, 2017, establishing the Statutes of the Central Bank of Madagascar ;

Having regard to Decree No. 2014-1684 of October 29, 2014, appointing the Governor of the Central Bank ;

DECIDES

TITLE I: General Provisions

Article 1: Purpose

This Instruction sets out the procedures for implementing the monetary policy instruments of Banky Foiben’i Madagasikara, hereinafter referred to as BFM.

Article 2: Definitions

For the purposes of this Instruction, the following terms shall mean

Lineage: Superseded

Decree No. 2014-1684 of October…2014Decree No. 2014-1684 of October 29, 2014 Appointing the Governor of the Central Bank of Madagascar (2014-10-29)Law No. 2016-004 of July 29, 20…2016Law No. 2016-004 of July 29, 2016, as amended by Law No. 2016-057 of February 2, 2017, establishing the Statutes of the Central Bank of Madagascar (2016-07-29)Loi n° 2016-057 du 2 février 20…2017Loi n° 2016-057 du 2 février 2017 complétant la loi n° 2016-004 du 29 juillet 2016 portant statuts de la Banque Centrale de Madagascar (Law No. 2016-057 supplementing the law on the Statutes of the Central Bank of Madagascar) (2017-02-02)Instruction No. 005-DOM/2017on the Implementation of Mone…2017-12-19 · this documentInstruction No. 005-DOM/2017 on the Implementation of Monetary Policy Instruments of Banky Foiben'i Madagasikara (2017-12-19)Instruction No. 002-DOM/2018 Am…2018Instruction No. 002-DOM/2018 Amending Certain Provisions of Instruction No. 005-DOM/2017 of December 19, 2017 on the Implementation of Monetary Policy Instruments by Banky Foiben'i Madagasikara (2018-09-28)Instruction No. 001-DOM/19 amen…2019Instruction No. 001-DOM/19 amending and supplementing certain provisions of Instruction No. 005-DOM/17 of 19 December 2017 on the implementation of monetary policy instruments of Banky Foiben'i Madagasikara (2019-05-03)Instruction No. 006-DOM/19 on M…2019Instruction No. 006-DOM/19 on Money Market Instruments (2019-10-25)Instruction No. 006-DOM/2017 Se…2017Instruction No. 006-DOM/2017 Setting the Marginal Lending Facility Rate of Banky Foiben'i Madagasikara (2017-12-19)Instruction No. 001-DOM/2018 on…2018Instruction No. 001-DOM/2018 on the Compliance with the Solvency Ratio by Participants Eligible for the Money Market (2018-02-15)Instruction No. 002-DOM/19 on t…2019Instruction No. 002-DOM/19 on the Policy Rates of the Central Bank of Madagascar (2019-05-03)Instruction No. 003-DOM/19 Sett…2019Instruction No. 003-DOM/19 Setting the Rates of Permanent Facilities of Banky Foiben'i Madagasikara (2019-05-03)
amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Timeline

Amended 3 times · last 2019-10-25

Source: Banky Foiben'i Madagasikara — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

More like this from BFM

We email you every new BFM publication the day it's published.

Topics
monetary