The market manifested overflowing vitality, with cumulative bids reaching 494.7 billion FCFA. With a subscription rate soaring to 123.68%, the ten participating institutions displayed a refinancing need that far exceeds the available supply. This shortfall of nearly 95 billion FCFA in unsatisfied solicitations illustrates the narrow margins for maneuver within the community space, imposing particularly rigorous balance sheet management on operators.

Although the main bidding rate (TIAO) remained stable at 4.75%, the aggressiveness of banks to capture cash mechanically drove costs upward. The weighted average rate of the allotted amounts thus settled at 4.91%, with some bids even flirting with the 5% ceiling. This increase reflects heightened competition among actors to secure their positions in an environment where the Central Bank prioritizes the control of the money supply.

The scarcity of fresh money is further confirmed by the evolution of exchanges between peers. On the interbank market, the reference rate (TIMP) climbed to 6%, creating a significant differential of 1.25% with the BEAC policy rate. Soliciting another bank has thus become markedly more expensive than refueling directly from the issuing institution. This configuration reinforces the structural dependence of the private financial sector on the central bank's weekly interventions to balance its prudential ratios.

Asaba