{"id":6263,"date":"2024-04-22T14:53:49","date_gmt":"2024-04-22T14:53:49","guid":{"rendered":"https:\/\/challengeseconomiques.com\/?p=6263"},"modified":"2024-04-22T14:55:50","modified_gmt":"2024-04-22T14:55:50","slug":"refinancement-des-banques-commerciales-la-bceao-face-a-des-choix-complexes","status":"publish","type":"post","link":"https:\/\/challengeseconomiques.com\/?p=6263","title":{"rendered":"Refinancement des banques commerciales : la BCEAO face \u00e0 des choix complexes"},"content":{"rendered":"<div class=\"itemIntroText\">\n<p class=\"texte textearticle\"><strong>\u00a0Le b\u00e9n\u00e9fice net de la BCEAO a \u00e9t\u00e9 port\u00e9 par une progression substantielle des revenus du refinancement des banques commerciales. Mais ce succ\u00e8s dissimule une liquidit\u00e9 en constante d\u00e9t\u00e9rioration dans le secteur bancaire de l&rsquo;UEMOA, quoique maitris\u00e9e pour le moment.<\/strong><\/p>\n<p class=\"texte textearticle\">La BCEAO, qui agit en tant que banque centrale pour tous les pays de l&rsquo;Union \u00e9conomique et mon\u00e9taire ouest-africaine, est confront\u00e9e \u00e0 un choix complexe dans la gestion des demandes de refinancement des banques commerciales. Par rapport \u00e0 2022, cette activit\u00e9 a contribu\u00e9 \u00e0 acc\u00e9l\u00e9rer la croissance de son b\u00e9n\u00e9fice net qui, en 2023, a atteint 315,62 milliards fcfa, soit une hausse de 152%.<\/p>\n<p class=\"texte textearticle\">Plus pr\u00e9cis\u00e9ment, les revenus d&rsquo;int\u00e9r\u00eat g\u00e9n\u00e9r\u00e9s par les activit\u00e9s de refinancement (329,4 milliards fcfa) ont augment\u00e9 de 112%. Ces revenus constituent le principal poste de cr\u00e9ation de revenus d&rsquo;int\u00e9r\u00eat pour la BCEAO en 2023, repr\u00e9sentant 59,4% du total. Cette source de revenus pour la banque centrale repose n\u00e9anmoins sur le d\u00e9fi de liquidit\u00e9 qui continue de s&rsquo;\u00e9tendre au sein du secteur bancaire de l&rsquo;UEMOA.<\/p>\n<p class=\"texte textearticle\">Dans un rapport publi\u00e9 le 17 avril 2024 sur la sous-r\u00e9gion, le Fonds mon\u00e9taire international (FMI) a soulign\u00e9 ces risques. Selon ses analyses, la liquidit\u00e9 s&rsquo;est d\u00e9t\u00e9rior\u00e9e dans le secteur des banques, for\u00e7ant celles-ci \u00e0 d\u00e9pendre plus fr\u00e9quemment de la banque centrale pour acc\u00e9der \u00e0 des liquidit\u00e9s. La situation n&rsquo;est pas uniforme dans tous les pays. Le B\u00e9nin, avec 12,4% d&rsquo;actifs liquides dans le bilan des banques, est le plus affect\u00e9 (selon des donn\u00e9es de 2022), tandis que les banques maliennes s&rsquo;en sortent mieux avec 31,5%.<\/p>\n<p class=\"texte textearticle\"><em>\u00ab\u00a0Le fait que les march\u00e9s de revente des titres publics ne soient pas tr\u00e8s actifs, et que de nombreux d\u00e9p\u00f4ts soient concentr\u00e9s dans peu de banques, complique la capacit\u00e9 de ces derni\u00e8res \u00e0 g\u00e9rer efficacement les probl\u00e8mes qui pourraient survenir d&rsquo;un manque soudain de liquidit\u00e9s, et cela pourrait aggraver ces d\u00e9fis l\u00e0 o\u00f9 ils existent d\u00e9j\u00e0\u00a0\u00bb<\/em>, a indiqu\u00e9 le FMI.<\/p>\n<p class=\"texte textearticle\">Dans une \u00e9conomie o\u00f9 les ressources des banques sont tr\u00e8s concentr\u00e9es, il n&rsquo;est pas exclu que de tels d\u00e9fis surviennent dans un contexte d\u00e9favorable. Avec le recul des avoirs ext\u00e9rieurs nets, on a vu les exc\u00e8s de liquidit\u00e9 des banques de l&rsquo;UEMOA chuter de plus de 250% \u00e0 moins de 94%. De plus, les d\u00e9p\u00f4ts bancaires sont tr\u00e8s concentr\u00e9s dans la sous-r\u00e9gion, avec une poign\u00e9e de familles et de grandes entreprises d\u00e9tenant pr\u00e8s de 75% des d\u00e9p\u00f4ts bancaires.<\/p>\n<p class=\"texte textearticle\">Pour ne pas asphyxier le secteur bancaire, certains experts estiment que la BCEAO devrait r\u00e9duire ses principaux taux d&rsquo;intervention sur le march\u00e9 mon\u00e9taire, peut-\u00eatre en abaissant les taux de refinancement. Toutefois, l&rsquo;institution tient \u00e0 maintenir la stabilit\u00e9 de la monnaie et \u00e0 contr\u00f4ler l&rsquo;\u00e9volution de l&rsquo;inflation, bien que celle-ci soit principalement d&rsquo;origine import\u00e9e.<\/p>\n<p class=\"texte textearticle\">Une autre option, qui continue de progresser, est le d\u00e9veloppement du march\u00e9 secondaire des titres publics. L&rsquo;Agence UMOA-Titres, comp\u00e9tente pour organiser et g\u00e9rer les emprunts sur titre des Etats de l&rsquo;UEMOA sur le march\u00e9 mon\u00e9taire local, a indiqu\u00e9 qu&rsquo;une plateforme plus dynamique est attendue d&rsquo;ici la fin du premier semestre 2024. Elle devrait \u00e9largir les possibilit\u00e9s offertes aux banques de convertir plus facilement leurs actifs liqu\u00e9fiables en cash.<\/p>\n<p><strong>(Agence Ecofin)<br \/>\n<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Le b\u00e9n\u00e9fice net de la BCEAO a \u00e9t\u00e9 port\u00e9 par une progression substantielle des revenus du refinancement des banques commerciales. Mais ce succ\u00e8s dissimule une&#8230;<\/p>\n","protected":false},"author":1,"featured_media":886,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-6263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualite-economique","wpcat-8-id"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Refinancement des banques commerciales : la BCEAO face \u00e0 des choix complexes - challenges economiques<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/challengeseconomiques.com\/?p=6263\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Refinancement des banques commerciales : la BCEAO face \u00e0 des choix complexes - challenges economiques\" \/>\n<meta property=\"og:description\" content=\"\u00a0Le b\u00e9n\u00e9fice net de la BCEAO a \u00e9t\u00e9 port\u00e9 par une progression substantielle des revenus du refinancement des banques commerciales. 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