Production and Transmission of Documents to the Banque Nationale de Djibouti – Circular No. 01/BND/99

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Circular No. 01/BND/99

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PRODUCTION AND TRANSMISSION OF DOCUMENTS TO THE BANQUE NATIONALE DE DJIBOUTI ____________________________ The review of documents submitted to the Banque Nationale de Djibouti by credit institutions has revealed that gaps and delays persist in this regard. This finding leads me to remind banks that incomplete or improperly prepared documents, especially when submitted late, hinder the work necessary for the analysis and monitoring of the banking system. This also compromises the reliability of economic and financial information communicated to national authorities and the International Monetary Fund as part of the structural adjustment program concluded with the latter. This circular therefore aims to restate certain of the banks' obligations and henceforth indicate the submission deadlines for the documents listed below to the Banque Nationale de Djibouti:

1. Annual Documents

• The Balance Sheet
• The Operating Account
• The Profit and Loss Statement
• The Auditors' Report
• The Board of Directors' Report on the Accounts
• The Resolutions of the General Meeting of Shareholders
  Deadline: April 30

2. Semi-Annual Documents
   a) Net Equity Composition – Instruction No. 2/BND/96 Deadline: the 5th of the month following the end of each semester b) Solvency – Instruction No. 4/BND/96 Deadline: the 5th of the month following the end of each semester c) Limitation of Individual Risks – Instruction No. 5/BND/96 Deadline: the 5th of the month following the end of each semester d) Overall Coverage of Significant Individual Risks – Instruction No. 6/BND/96 Deadline: the 5th of the month following the end of each semester e) Credit Institutions' Participations – Instruction No. 7/BND/96 Deadline: the 5th of the month following the end of each semester f) Coverage Ratio for Fixed Assets – Instruction No. 8/BND/96 Deadline: the 5th of the month following the end of each semester g) Coverage Ratio for Forward Commitments – Instruction No. 9/BND/96 Deadline: the 5th of the month following the end of each semester h) Coverage Ratio for Foreign Currency Deposits – Instruction No. 10/BND/96 Deadline: the 5th of the month following the end of each semester i) Coverage of Djibouti Franc Deposits – Instruction No. 11/BND/96 Deadline: the 5th of the month following the end of each semester
3. Quarterly Documents:

• Declaration of Doubtful or Litigious Fixed Assets – Instruction No. 13/BND/96
  Deadline: the 5th of the month following the end of each quarter
• Balance of Payments Statistics – Decree No. 92-0051/PRE
  Deadline: the 5th of the month following the end of each quarter

4. Bi-Monthly Declaration

• Risk Centralization
  Deadline: the 10th of the month following the end of each two-month period

5. Monthly Documents

• The Accounting Statement and Supplementary Schedules
• Detailed Observations on the Evolution of Key Items (Loans, Deposits…)
  Deadline: the 5th of the following month.

6. Weekly Documents

• Interest Rate Declaration – Instruction No. 14/BND/99
  Deadline: Sunday before the close of the banking day

7. Factual Declarations

• Declaration of any payment incident to the Central Credit Registry.
• Objective Response to any information request made by the Banque Nationale de Djibouti.
  Compliance with this provision will enable the Banque Nationale de Djibouti to receive these documents on time, thereby significantly improving the economic and financial information it disseminates. Credit institutions that fail to provide the Banque Nationale with the documents and information cited above may be subject by the Banque Nationale to the following penalties per day of delay or omission:
• 15,000 francs during the first fifteen days,
• 25,000 francs during the following fifteen days
• 30,000 francs beyond that period.
  The proceeds from these penalties are paid to the National Treasury. The Governor Djama M. Haid