Regulatory Alerts2016-11-01
General Regulation of the Settlement and Securities Custody Unit (CRCT)
The Bank of Central African States (BEAC) issued this General Regulation to establish the operational framework, governance, and accounting procedures for its Settlement and Securities Custody Unit (CRCT). The CRCT functions as the central securities depository and settlement agent for freely subscribed public securities issued by CEMAC member states, mandating strict custody, daily account reconciliation, and bilateral transaction matching among affiliated Treasury Securities Specialists. The regulation further defines the Supervisory Board's oversight powers, the Manager's executive responsibilities, fee structures, internal controls, and disciplinary measures for non-compliance.
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