Regulatory Alerts2021-11-01
Instruction No. 04/CRCT/2021 – Procedures for Organizing Treasury Bond Buyback Operations via Public Offers with Central Bank Assistance
The Bank of Central African States (BEAC) has issued Instruction No. 04/CRCT/2021 to standardize the operational procedures for Treasury securities buyback operations conducted through public offers with central bank assistance. The instruction mandates that the Public Treasury submit a formal request at least seven working days prior to execution, detailing security characteristics and maximum nominal amounts, while designating Treasury Securities Specialists (SVT) as the primary bidders authorized to submit up to ten distinct price bids per security. It further establishes a strict timeline for bid submission, anonymous price aggregation, limit price determination by the Treasury, and final settlement with automatic penalty mechanisms for delivery failures.