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Finance

CEMAC: BEAC injected over XAF60 bln in the banking market within two days

CEMAC: BEAC injected over XAF60 bln in the banking market within two days
  • Comments   -   Thursday, 17 September 2020 15:07

(Business in Cameroon) - Between September 14 and 15, 2020, the central bank of CEMAC states refinanced seven banks operating in the region with XAF62 billion, official sources reveal.

In detail, three banks were refinanced with XAF26 billion at a 3.5% interest rate while the overall offer from the central bank was XAF50 billion (which would mature after 12 months).

A day later, the central bank offered XAF250 billion. That day, four banks accepted the refinancing offer capturing XAF36 billion (certainly because of the maturity period that was only 7 days). The interest rate on this offer was 3.25 prime rate.

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