Central African Banking Commission
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The Central African Banking Commission (french: COmmission Bancaire de l'Afrique Centrale, COBAC) is a
supranational Supranational or supra-national may refer to: * Supranational union, a type of multinational political union * Supranational law, a form of international law * Supranational legislature, a form of international legislature * Supranational curre ...
bank supervisor established in 1990 and based in
Libreville Libreville is the capital and largest city of Gabon. Occupying in the northwestern province of Estuaire, Libreville is a port on the Komo River, near the Gulf of Guinea. As of the 2013 census, its population was 703,904. The area has been inh ...
,
Gabon Gabon (; ; snq, Ngabu), officially the Gabonese Republic (french: République gabonaise), is a country on the west coast of Central Africa. Located on the equator, it is bordered by Equatorial Guinea to the northwest, Cameroon to the north ...
. It is institutionally part of the
Bank of Central African States The Bank of Central African States (french: Banque des États de l'Afrique Centrale, BEAC) is a central bank that serves six central African countries which form the Economic and Monetary Community of Central Africa: *Cameroon *Central African ...
(French acronym BEAC) and is the single banking supervisor for the six countries of the
Economic and Monetary Community of Central Africa The Economic Community of Central African States (ECCAS; french: Communauté Économique des États de l'Afrique Centrale, CEEAC; es, Comunidad Económica de los Estados de África Central, CEEAC; pt, Comunidade Económica dos Estados da Áfr ...
(CEMAC),namely
Cameroon Cameroon (; french: Cameroun, ff, Kamerun), officially the Republic of Cameroon (french: République du Cameroun, links=no), is a country in west-central Africa. It is bordered by Nigeria to the west and north; Chad to the northeast; the C ...
, the
Central African Republic The Central African Republic (CAR; ; , RCA; , or , ) is a landlocked country in Central Africa. It is bordered by Chad to the north, Sudan to the northeast, South Sudan to the southeast, the DR Congo to the south, the Republic of th ...
,
Chad Chad (; ar, تشاد , ; french: Tchad, ), officially the Republic of Chad, '; ) is a landlocked country at the crossroads of North and Central Africa. It is bordered by Libya to the north, Sudan to the east, the Central African Republic ...
,
Equatorial Guinea Equatorial Guinea ( es, Guinea Ecuatorial; french: Guinée équatoriale; pt, Guiné Equatorial), officially the Republic of Equatorial Guinea ( es, link=no, República de Guinea Ecuatorial, french: link=no, République de Guinée équatoria ...
,
Gabon Gabon (; ; snq, Ngabu), officially the Gabonese Republic (french: République gabonaise), is a country on the west coast of Central Africa. Located on the equator, it is bordered by Equatorial Guinea to the northwest, Cameroon to the north ...
, and the
Republic of the Congo The Republic of the Congo (french: République du Congo, ln, Republíki ya Kongó), also known as Congo-Brazzaville, the Congo Republic or simply either Congo or the Congo, is a country located in the western coast of Central Africa to the w ...
.


Overview

On , following similar reform pioneered by the
Central Bank of West African States The Central Bank of West African States (french: Banque Centrale des États de l'Afrique de l'Ouest, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West Af ...
earlier the same year, the member states decided to pool their banking supervision and created the COBAC for that purpose within the BEAC. On , a follow-up agreement harmonized
banking regulation Bank regulation is a form of government regulation which subjects banks to certain requirements, restrictions and guidelines, designed to create market transparency between banking institutions and the individuals and corporations with whom they ...
in the region, paving the way for the effective establishment of the COBAC in January 1993. The COBAC is chaired by the Governor of the BEAC and managed by a permanent secretary-general. In late 2011, the COBAC moved from its temporary location in Yaoundé to
Libreville Libreville is the capital and largest city of Gabon. Occupying in the northwestern province of Estuaire, Libreville is a port on the Komo River, near the Gulf of Guinea. As of the 2013 census, its population was 703,904. The area has been inh ...
. That same year, a common deposit insurance fund (french: Fonds de Garantie des Dépôts en Afrique Centrale, FOGADAC) entered into force. This did not immediately result, however, in a full banking union, because the financial burden of bank crisis management and resolution has remained at the national level.


See also

*
Central African Financial Market Supervisory Commission The Central African Financial Market Supervisory Commission (french: Commission de Surveillance du Marché Financier de l’Afrique Centrale, COSUMAF) is a supranational markets regulator established in 2019 and based in Libreville, Gabon. It is ...
(COSUMAF) *
Regional Insurance Control Commission The Regional Insurance Control Commission (french: Commission Régionale de Contrôle des Assurances, CRCA) is a supranational insurance supervisor established in 1993 and based in Libreville, Gabon. It is the single authority for insurers in the ...
(CRCA) *
Banking Commission of the West African Monetary Union The Banking Commission of the West African Monetary Union (french: Commission Bancaire de l'Union Monétaire Ouest Africaine, CB-UMOA) is a Supranationalism, supranational Bank supervision, bank supervisor established in 1990 and based in Abidjan ...
(CB-UMOA) *
Eastern Caribbean Central Bank The Eastern Caribbean Central Bank (ECCB) is the central bank for the Eastern Caribbean Dollar, Eastern Caribbean dollar and is the monetary authority for the members of the Organisation of Eastern Caribbean States (OECS), with the exception of ...
(ECCB) *
European Banking Supervision European Banking Supervision, also known as the Single Supervisory Mechanism (SSM), is the policy framework for the prudential supervision of banks in the euro area. It is centered on the European Central Bank (ECB), whose supervisory arm is ...
*
List of financial regulatory authorities by jurisdiction The following is an incomplete list of financial regulatory and supervisory authorities by individual jurisdiction. Central banks are only listed where they act as direct supervisors of individual financial firms. Unless they are set up exclusive ...


References

Economic Community of Central African States International organizations based in Africa {{Africa-bank-stub