Regulatory Alerts2024-11-15
Added · Updated
Instruction No. 10 to Authorized Banks on the Constitution of the Mandatory Reserve - Modification No. 47
This instruction establishes the rules for authorized banks in the Democratic Republic of Congo to constitute their mandatory reserve, specifying that reserves must be established by the 15th of the month based on monthly averages of weekly deposit data. It defines the calculation of penalties for insufficient reserves in Congolese Francs and US Dollars, the procedures for returning excess reserves, and the transitional provisions for crystallized foreign currency deposits. The regulation enters into force on the date of its signature, October 11, 2024, and repeals all prior contradictory provisions.
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