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Finance

CEMAC: Interbank transactions rose to slightly over XAF3,500 bln in 2019

CEMAC: Interbank transactions rose to slightly over XAF3,500 bln in 2019
  • Comments   -   Tuesday, 24 March 2020 13:35

(Business in Cameroon) - In the CEMAC region, the volume of interbank transactions was XAF3,500.3 billion in 2019, according to recent data published by the central bank BEAC.

According to the central bank, there was a slight increase in the transactions during the period under review. This increase is notably the result of the creation of new tools like the repurchase agreement (repo).

Indeed, the BEAC informs, out of the XAF3,500.3 billion transactions, 174 operations representing XAF2,546.5 billion were conducted via repo markets (all classes of maturity included).

This momentum should continue and ultimately lead to a reduction of excess liquidity in the banking system. It will improve the efficiency of monetary policy,” the central bank writes.  

According to experts, the repurchase agreement is a sale/purchase of financial securities, at a date and price set in advance. The purpose of such agreement is, for a holder of securities, to exchange them for cash at a preferential rate.

 Sylvain Andzongo

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