Yaoundé - 17 July 2018 -

Almost CFA1,400 billion liquidities offered by BEAC on the money market within two weeks

Almost CFA1,400 billion liquidities offered by BEAC on the money market within two weeks
  • Comments   -   Wednesday, 11 July 2018 16:10

(Business in Cameroon) - The Bank of Central African States (BEAC) is about to reach the threshold of CFA1,400 billion of liquidities placed on CEMAC’s money market within four weeks.

The last placement was done on July 10, 2018. In that regard, Dieudonné Evou Mekou, vice-governor of the central bank, signed a call to tender to place CFA275 billion of liquidities in the money market. The subscription will start on July 12, 2018, and be completed on July 19, 2018. For this placement, the interest rate is 2.95%.

Let’s note that this is the fifth tender launched by BEAC since June 14, 2018. Within that period, it successfully injected CFA1,120 billion. In case the CFA275 billion offered for this operation is fully subscribed to, the total amount will reach CFA1,345 billion (a little less than CFA1,400 billion) in the framework of the program initiated to push urgent liquidities in favor of banks in difficulty but deemed creditworthy.

The last operation was conducted from July 5 to 10 and the volume of liquidity offered was CFA275 billion. During that operation, the subscription rate was 123.51% or liquidity need estimated at CFA339.6 billion, within 24 hours. The minimum interest rate was 2.95%.

Earlier on June 26, 2018, the central bank placed the same volume of CFA275 billion on the money market. The following day, Désiré Guedon the secretary general announced that the volume of the subscription was CFA313.968 billion or 114.17% of the volume offered.  

As for the first two operations conducted respectively on June 14 and June 21, 2018, the bank placed CFA285 billion each time. The subscription volumes were 109.1% (CFA310.9 billion) and 125.28% (CFA357.04 billion) respectively.

Sylvain Andzongo

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