Instruction No. 10 to Banks (All) - Modification No. 40, Effective Date: February 25, 2016

CENTRAL BANK OF CONGO
THE GOVERNOR
INSTRUCTION NO. 10 TO BANKS (ALL)
Modification No. 40, effective on .
Concerns: Mandatory reserve coefficient.

Article 1:
Banks are required to constitute mandatory reserves in the books of the Central Bank of the Congo according to the calculation base and coefficient set out in Article 3.

Article 2:
The mandatory reserve consists of the banks' holdings in national currency in current accounts with the Central Bank of the Congo.

Article 3:
The amount of the mandatory reserve is calculated, according to the maturity and currency of the deposit, with respect to the following passive items:

• National currency deposits

• Item 33: Ordinary sight deposits from the public: 2%

• Item 34: Term deposits from the public: 0%

• Item 35: Special regime deposits: 0%

• Foreign currency deposits

• Item 33: Ordinary sight deposits from the public: 10%

• Item 34: Term deposits from the public: 9%

• Item 35: Special regime deposits: 9%

Article 4:
The amount of the mandatory reserve is calculated on a monthly basis. With reference to the monthly situation of banks established in the previous month, the Central Bank of the Congo notifies each bank of the amount of the mandatory reserve to be observed during a specified period.

Article 5:
The period for constituting reserves is one month, from the 15th calendar day of each month until the 14th day of the following month.

563, Colonel Tshatshi Boulevard - Kinshasa - Gombe Email: sgouverneur@bcc.cd / svcgouverneur@bcc.cd / cabgouv@bcc.cd - Website: http://www.bcc.cd

CENTRAL BANK OF CONGO
CONTINUED ON PAGE
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Article 6:
Compliance with the mandatory reserve coverage is verified at the end of each constitution period, with reference to the average of the daily balances of assets held by banks in current accounts in the books of the Central Bank of the Congo during the constitution period.

Article 7:
A mandatory reserve shortfall constitutes a case where the average balance in current accounts of a bank over the entire constitution period is lower than the amount notified to it for the corresponding constitution period.

Article 8:

• A penalty equal to the interest rate on "permanent facilities" increased by half is applied to the amount of the shortfall at the end of each period;
• A debit notice generated automatically in compensation to the concerned bank for the automatic deduction of the penalty.

. . . 25 FEB. 2016 Made in Kinshasa, on .

Deogratias
TOMBO MWAMANYEMBO
Governor

563, Colonel Tshatshi Boulevard • Kinshasa - Gombe Email: sgouverneur@bcc.cd / svcgouverneur@bcc.cd / cabgouv@bcc.cd • Website: http://www.bcc.cd