•  Appointment of key officers of the Common Central Bank. •  Preparation for the introduction of a common currency. •  Recruitment of staff of the Bank. •  Mid-term assessment of country performance. •  Final assessment of countries' performance against convergence criteria. Stage IV (Year 2015-2021) -  Launching of the African Central Bank (ACB).
But at the same time, as we and other authorities collected data on the transactions underlying banks’ submissions to LIBOR, we began to see that those transactions were relatively few and far between. As a result, many began to question whether LIBOR could be truly and permanently fixed.