Regulatory Alerts2014-12-18
Government of Liberia Treasury Bills Auction Rules and Regulations
The Central Bank of Liberia, acting as fiscal agent for the Government of Liberia, establishes these regulations to govern the monthly issuance and auction of Treasury Bills. The framework mandates a transparent multiple-bid auction format open to commercial banks, specifying competitive and non-competitive bidding limits, allocation procedures, and settlement pricing calculations. Additionally, the rules define secondary market trading protocols, establish an Auction Committee for result validation and under-subscription management, and require prompt public disclosure of auction outcomes to enhance domestic liquidity.
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