Regulatory Alerts2016-03-17
Added · Updated
Instruction No. 4 (to banks) - Modification No. 11: Money Market Operations
The Central Bank of Congo establishes two refinancing windows for authorized banks: a short-term lending window with a maximum maturity of 7 days and permanent facilities. Banks must pledge high-quality public or private securities, with specific eligibility criteria, valuation rules, and signature requirements defined for each category. The instruction details the documentation, interest rates, and penalties associated with these operations, including automatic overdraft coverage at penalized rates for settlement account deficits.
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