The Central Bank of West African States (BCEAO) announced that the Council of Ministers of the West African Monetary Union (UMOA) has designated it as the Union’s macroprudential authority, giving it responsibility for preventing crises and mitigating systemic risks that could threaten the regional financial system. The mandate covers cross-cutting monitoring of financial vulnerabilities in coordination with the Union’s financial-sector regulatory and supervisory authorities, with powers to recommend or implement measures to preserve resilience. The BCEAO is also tasked with coordinating responses in the event of a banking or financial crisis.
Central Bank of West African States 2025-04-15
Central Bank of West African States designated as macroprudential authority for the West African Monetary Union
The Central Bank of West African States (BCEAO) has been designated by the Council of Ministers of the West African Monetary Union as the Union’s macroprudential authority. This role involves preventing crises and mitigating systemic risks, with responsibilities including cross-cutting monitoring of financial vulnerabilities and coordinating crisis responses.