African Central Banks and the CFA Franc
The Account in Paris
Post the mechanism everyone names — then find out which half of the zone still has it.
10 min105 XP available4 challenges
Under the arrangement as it stood before 2020, and as it still stands for the BEAC, half of the central bank’s foreign exchange reserves are centralised in an account at the French Treasury. Here it moves €500m.
Entries to post
0 of 4 entries placed
Pick an entry, then choose whose sheet it lands on and which side. Every sheet must balance.
The CFA Central Bank
Issuer of the CFA franc
Central bankAssets
What it owns
- Deposits with banks abroad€3B
- Operations account at the French Treasury€2B
Liabilities
What it owes
- Currency in circulation€5B
French Treasury
Holds the account, pays interest on it, guarantees convertibility
Fiduciary coreAssets
What it owns
- Cash at the Banque de France€40B
Liabilities
What it owes
- Operations accounts owed to CFA central banks€2B
- Other liabilities€38B
Answer to continue.