Regulatory Alerts2016-11-01
Regulation No. 03/CEMAC/UMAC/CM on Stock Repurchase Operations in the BEAC Money Market
The Central African Economic and Monetary Community (CEMAC) issued Regulation No. 03/CEMAC/UMAC/CM to establish the legal and operational framework for stock repurchase (pension livrée) transactions within the BEAC money market. The regulation defines eligible financial assets, mandates a standardized interbank framework agreement, and sets strict rules for title transfer, margin requirements, confirmation procedures, and currency denomination (XAF). It further details late payment/delivery interest calculations, substitution mechanisms, default and new circumstance termination rights, and aligns accounting standards with COBAC directives to enhance market confidence and monetary policy implementation.
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