“Let's stop criticizing our banks!”

More than ten years after the subprime mortgage crisis, all the light has not been shed, and yet the idea of ​​the guilt of the banks has taken hold firmly in people's minds. They are even blamed for the double fault, since after playing with fire and triggering the crisis, they allegedly asked for help from the States. This unanimous condemnation, the result of incomplete analyzes, is a heavy component of the bank bashing that has raged since then and unfortunately works against our interests. We are indeed at a critical moment when Europe, faced with the domination of American finance and the dollar, must develop its own financial capacities. The development of a strong pan-European financial sector is therefore essential if we particularly want to foster the emergence of future European gafas. 
If it is vain to hope for the complete disappearance of this bank bashing and, one might say, of the bashing market whose roots plunge both in history and in ignor…

Phase 2 of the COVID-19 Social Bond issuance program: more than 800 billion FCFA mobilized

A second phase of COVID-19 Social Bond issues was launched by the UMOA-Titles Agency, in coordination with the BCEAO, on behalf of the WAEMU member states. The execution of this second phase of the program during the months of July and August 2020, enjoyed the support of market players and was a resounding success.

Phase 2 of the COVID-19 Social Bond issuance program: more than 800 billion FCFA mobilized

In short, 35 investors from the UEMOA zone took part in the nine (9) operations making up this phase of the program.

Thus, the overall average rate of coverage resulting from these issues was 245.45%, with a weighted average interest rate of 2.2748%.

In addition, the weighted average interest rates observed were between 2.19% and 2.46% in a context where the BCEAO's key rate was at 2%.

Through the success of this new phase of the COVID-19 Social Bond issuance program and the 831.13 billion CFA francs effectively mobilized, the players in the WAEMU Public Securities Market renew their commitments to be socially responsible investors. by contributing to the efforts of States in the UEMOA zone against the COVID-19 pandemic.

This second phase of COVID-19 Social Voucher issuance comes after the success of phase 1 of the COVID-19 Social Voucher issuance program which has enabled member states of the UEMOA zone to mobilize more than 1000 billion CFA francs on the Public Securities Market

As a reminder, the COVID-19 Social Bons are Assimilable Treasury Bonds with a 3-month maturity issued by auction at discounted rates less than or equal to 3.75% during the first phase and 3.25% during the second phase. 

They benefit not only from access to the traditional BCEAO window, but also from access to a special COVID-19 window for 3-month refinancing at the fixed key rate increased from 2.5% to 2% from the first to the second phase, in conjunction with the cut in the BCEAO key rate.

The vouchers are exempt from taxes and duties for investors resident in the issuing country. Residents of the UEMOA zone and investors outside the UEMOA zone are subject to the taxation applicable in the territory of their country of residence.

The UMOA-Titles Agency and the Public Treasuries of the UEMOA zone would also like to thank all the MTP players who have made no effort to support the member states.