Instruction No. 05/CRCT/2021 on the Establishment of Treasury Securities Issuance Days in CEMAC

BANK OF CENTRAL AFRICAN STATES

CENTRAL OFFICES Settlement and Securities Depository Cell (CRCT)

INSTRUCTION NO. 05/CRCT/2021 ON THE ESTABLISHMENT OF TREASURY SECURITIES ISSUANCE DAYS IN CEMAC

The GOVERNOR,

Having regard to Regulation No. 03/19/CEMAC/UMAC/CM on Treasury securities issued by the Member States of CEMAC;

Having regard to the General Regulations of the Settlement and Securities Depository Cell;

Having regard to the Adhesion Agreement to the Settlement and Securities Depository Cell;

Having regard to the Convention on the Organization of Treasury Securities Issuances;

Having regard to the Convention on Participation in Treasury Securities Issuances;

Having regard to the Specifications for Treasury Securities Specialists;

After approval by the CRCT Supervisory Council during its extraordinary session on November 18, 2021, via videoconference;

ADOPTS THE INSTRUCTION CONTAINED HEREIN

Article 1. - TREASURY SECURITIES ISSUANCE DAYS FOR CEMAC MEMBER STATES

Treasury securities of CEMAC Member States may be put up for auction on Mondays, Tuesdays, and Wednesdays of each week.

Article 2. - ISSUANCE DAY FOR EACH CEMAC PUBLIC TREASURY

The Monday session of each week is reserved exclusively for the issuance of Treasury securities by the Republic of Cameroon and the Central African Republic.

The Tuesday session of each week is reserved exclusively for the issuance of Treasury securities by the Republic of Congo and the Republic of Equatorial Guinea.

The Wednesday session of each week is reserved exclusively for the issuance of Treasury securities by the Gabonese Republic and the Republic of Chad.

Article 3. - INVESTOR INFORMATION

Each Public Treasury shall take all necessary measures to transmit to the BEAC and publish via any appropriate channel, the quarterly issuance calendar before the start of each quarter, the call for bids notice four (4) market working days prior to the auction session date, and the announcement of issuance results on the same day (Day J), in accordance with existing provisions governing the schedule for Treasury securities issuance via auction procedure.

Furthermore, it is recalled that "market working days" within the meaning of this Instruction refer to "SYGMA" days, i.e., Monday through Friday of each week, excluding the following holidays: January 1, May 1, and December 25 of each year.

Article 4. - SETTLEMENT AND DELIVERY DAYS FOR TREASURY SECURITIES OF CEMAC STATES

The settlement day for Treasury securities issuance, for each group of issuers, is determined based on the selected issuance day. In all cases, settlement and delivery of Treasury securities take place two market working days from the issuance day, in accordance with existing provisions.

Settlement/delivery for issuances by the Public Treasuries of Cameroon and the Central African Republic shall occur on Wednesday (J+2). For issuances by the Public Treasuries of Congo and Equatorial Guinea, settlement/delivery shall be carried out on Thursday (J+2). Friday is reserved for the settlement/delivery of issuances by the Public Treasuries of Gabon and Chad (J+2).

Article 5. - ENTRY INTO FORCE

This Instruction shall enter into force as of January 1, 2022.

Done at Yaoundé, on November 18, 2021

The Governor, ABBA MAHAMAT TOLLI