GovernanceAsset / Liability Management Committee (ALCO)

Since 2017, the FEC has had an ALM-Treasury committee whose name, mission, composition and operating methods were reviewed in 2019. The ALCO Committee (Asset / Liability management Committee) is responsible for:

• develop and implement the Bank's Asset-Liability management policy, in its various components (refinancing, investment, transformation, hedging, return on equity, etc.), in accordance with the strategic guidelines of the Board of Directors and legislative and regulatory provisions;
• Evaluate the pricing policy applied to customers;
• Define the limits necessary for the supervision of interest rate and liquidity risks,
• Ensure the balance sheet balance of the Bank;
• To assess the impact of the launch of new products, or any new activity involving a rate or liquidity risk, on the financial situation of the Bank;
• Monitor the Bank's risk profile (liquidity, interest rate and currency risk) within one of the internal and regulatory limits set by the Bank;
• To validate the conventions and the flow modes in rates.

The ALCO committee is chaired by the General Manager of the FEC and includes the members presented below:

• The Head of the Secretary General
• The Director of the Operations' Pole
• The Financial Director
• The Delegated Director in charge of Risk Management and Permanent Control Division
• The Delegated Director in charge of the Accounting and Reporting Division
• The responsible of the Management Control and ALM Department
• The responsible of the Compliance Entity

The ALCO Committee is governed by a charter which defines its missions, its composition and its operating procedures.

The ALCO committee meets, when convened by its Chairman, at least once a quarter, and as often as required.

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