Regulatory Alerts2006-12-14
Regulation (NAP) - Central Bank Deposit Certificates (CDBC)
The Central Bank of São Tomé and Príncipe (BCSTP) issues this Permanent Application Regulation to establish the framework for issuing Central Bank Deposit Certificates (CDBC) as a liquidity management tool. The regulation mandates that CDBC be auctioned in Dobras with nominal values of 100 million, specifying multiple or fixed rate modalities, submission deadlines, allocation procedures, and settlement timelines. It further defines penalty structures for non-compliance, including escalating fines and temporary auction bans for repeated infractions, while revoking the previous NAP 08/04.
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