Law on Banks and Other Financial Institutions

This is the governing statute of Haiti's banking system, at 65 gazette pages one of the longest financial-sector instruments in the corpus. It sets out what an institution must satisfy to be licensed, the prudential requirements it must observe, the supervisory powers of the Banque de la République d'Haïti, and the treatment of institutions in difficulty. Haiti's banking system is highly concentrated and is the point at which most of the formal financial sector's exposure to the macroeconomy is carried, so this law is the reference text behind subsequent financial-stability assessment, the reporting obligations of banks, and the supervisory actions the central bank takes. Published in Le Moniteur, Special No. 4, Friday 20 July 2012 - the same day as the law on the organization and operation of the Office of Citizen Protection, in a separate issue.