Posted by: Agence Tunis Afrique Presse

The Central Bank of Tunisia (BCT) has taken a new measure aimed at orienting the banks towards the financing of the productive sectors, supporting growth and rationalising the excessive use of refinancing with the BCT.

According to a statement released Friday, it is a new allocation of refinancing counterparties that requires a fixed share (share in a share) of 40% in the form of negotiable government securities and 60% in bank debt.

“The new measure, which came into effect on September 5, 2018, with a one-month deadline for its implementation, did not pose any particular problems to ensure adequate refinancing for the banking sector,” reassures the BCT.

As part of its intervention on the money market, the BCT provides assistance to banks against the surrender of eligible collateral in the form of government bonds (Treasury Bills), Short Term Treasury Bills and National Loan and sound banking claims.

At the end of December 2014, the proportion of public bills was raised to 40% (Circular to credit institutions n ° 2014-02 of March 28, 2014) against a minimum of 10% of the outstanding refinancing previously (Circular to credit institutions). Credit n ° 2013-10 of August 1, 2013).

In practice, the guarantees presented by the banks as a whole consist on average of 60% in public securities and the remainder (40%) in the form of bank loans. This contrasts with the asset structure of Tunisian banking institutions, which is mainly composed of credits granted to businesses and individuals.

To this end, it is important to specify that the BCT, whose mission is to contribute to financial stability, has a diversified range of instruments that can ensure the liquidity of the banking system under all circumstances and in accordance with the objectives assigned to monetary policy.