Regulatory Alerts2021-11-01
Instruction No. 03/CRCT/2021 - Operating Procedure for the Reopening of Treasury Securities Lines Issued by CEMAC Member States
The Bank of Central African States (BEAC) Governor issued Instruction No. 03/CRCT/2021 to standardize the operating procedure for reopening existing treasury securities lines issued by CEMAC member states. The instruction mandates that the Public Treasury submit a tender notice detailing operation dates, requested amounts, and line characteristics, which triggers an auction process managed through a dedicated digital platform. It further establishes uniform rules for bid submission, settlement with accrued interest, penalty application for payment defaults, and automatic generation of post-reopening interest and principal repayment schedules.
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